2/8  BIS central bankers' speeches  While it is true that uncertainty noticeably depressed economic activity during the global financial crisis ten years ago, there is no evidence that it has been dampening growth in the more recent past. So the relationship between uncertainty and the real economy is not as clear, or as close, as is often supposed.
This year’s theme for the Forum – “Growth Opportunities Beyond the Crisis” – is a reminder that the financial landscape has changed dramatically since the last time this Forum was held. The turning point in the global financial crisis is generally agreed to have been the bankruptcy of the investment bank Lehman Brothers in the middle of September last year.