A central bank that focuses intently on asset prices looks as if it is trying to control too many elements of the economy. Part of the recent successes of central banks throughout the world has been that they have narrowed their focus and have more actively communicated what they can and cannot do.
The Annual Accounts for 2022, which I am presenting today, continue to demonstrate the Bank's soundness, confirm the validity of previous decisions on prudential provisioning, and testify to its ability to perform its duties with adequate resources and with full independence and transparency.