Short-term policy responses to the risks facing us mentioned earlier are of course important, but when looked at from a long-term 1/3  BIS central bankers' speeches  perspective I believe that the work of resolving the structural vulnerabilities in our economy is a task that cannot be delayed any longer.
Through in-depth research we will have to precisely diagnose the urgent economic issues before us, seek viable responses to them, and consistently propose these to the policy authorities. To enhance our monetary policy’s effectiveness we will need to reconsider our policy framework and instruments.