And second, that the by-products of such a process complemented improvements in monetary policymaking such that the battles of yesteryear had been decisively won in a durable manner and the new challenges appeared to be manageable. The relationship between monetary policy and globalisation could thus be best described as one which was both symbiotic in nature and mutually beneficial.
I will review these arguments in turn. BIS central bankers’ speeches  1  The perceived inevitability of globalisation First, asserting the irreversibility of globalisation in the midst of a systemic crisis such as the one we are currently experiencing may seem far-fetched.