6  BIS central bankers’ speeches  vii)  The emergence of macro-prudential policy  One of the insights from the GFC was how rapidly instability could develop even though an economy might be growing close to its potential, and be experiencing sound fiscal policy and price stability.
One and a half years, countless hands, building, carving, constructing together. A marvelous coalition of the willing. A tribute to what central banks and supervisors can achieve, when working together, with a commonly held belief in a shared objective. It’s a therefore only appropriate that we are here in Paris.