But it will always be up to central bankers to use these tools, as well as their judgment, to conduct monetary policy, achieve their targets and offer a compelling narrative that everyone can understand. I would like to thank Rhys Mendes and Oleksiy Kryvtsov for their help in preparing this speech. 7/7  BIS central bankers' speeches
Outlook and risks The pandemic has created a fog of uncertainty, and this has greatly complicated our ability to generate a clear outlook for growth and inflation. The course of the coronavirus is the biggest source of uncertainty. Beyond that, we don’t know how global trade and supply chains will evolve, or what will happen with domestic supply and demand.