Policymakers moved decisively and in concert to take steps to revitalize the economy. BIS central bankers’ speeches  1  5. The Bank embarked this year on an unconventional journey and was quite innovative. When exporters started complaining about exchange rate volatility, we introduced foreign currency swaps to help exporters mitigate their foreign exchange risk.
The second, more recent, wave has affected primarily delivery channels in the widest sense, through the communication of information. Consider the opportunities provided by the Internet for the dissemination of information about products and for trade execution, both at the retail level and, incipiently too, at the wholesale level.