Yet, the next upturn will also differ in other respects. The economic landscape will be different and new risks will become apparent. This will most probably call for a different macroprudential stance. Deciding on this stance and timing its implementation appropriately will be a difficult task.
The theme of this Forum; “Financial Services for Food Security: Leveraging on Innovation” is quite timely and anchors well with the emerging trend whereby most of the agricultural land is being urbanized as well as the drastic climatic changes arising from global warming, which are posing a serious threat to food security for the future generations.