So, in our economies, where society has developed a high risk aversion and the need to prevent a new crisis becomes a priority objective, it is important to take the fiscal, financial and external conditions into account when conducting monetary policy.
Furthermore, in such scenario, monetary policy should be conceived under a general equilibrium approach, where fiscal solvency, the monetary stance and external sustainability are mutually determined. During this phase, both price and financial stability goals should be better tackled using all the tools of economic policy, involving joint and coordinated fiscal, wage, competition, and monetary policy actions, among others.