Underlying causative factors is the sustained decline in inflation and inflation volatility and the associated notable decline in nominal and real interest rates in most developed and developing economies. This resulted in complacency and central banks’ adopted accommodative monetary policy for longer period that induced excessive liquidity.
The efficiency criterion will be the key factor to assess our performance. I will expect and demand efficiency and commitment from every one of you because I myself will set the example. I am very devoted to my job and I demand that commitment from those who work with me.