4 Financial integration also improves the smooth and effective transmission of the single monetary policy throughout the euro area. More precisely, financial integration helps financial systems to channel funds from those economic agents that have a surplus of savings to those with a shortage; in particular, it enables agents to effectively trade, hedge, diversify and pool risks.
At the end of my talk, I will be leaving some takeaways from the BSP that you may consider as you return to your work, plan your businesses, and execute your mandates. The International Monetary Fund (IMF), in its October 2019 World Economic Outlook (W EO), forewarns that the global economy is in a synchronized slowdown.