BIS central bankers’ speeches  1  The outlook for 2015 Ladies and gentlemen, clearly, we have entered 2015 – as we did in 2014 -from a position of relative strength. Can we expect this strength to be sustained throughout 2015? My answer to this question is a YES. Shortly, I will provide you four reasons why.
But before that, let me give you some perspective by walking you through the operating environment that we see for 2015. The global themes coming into 2015 were rather clear – uneven growth and divergent monetary policies and a strong USD arising from this combination. This was so until oil prices began to drop – like falling knives – as one analyst put it.