3  See speech by P. Praet (2015) “Lifting potential growth in the euro area”, at the Welt-Währungskonferenz, Berlin, 23 April 2015. BIS central bankers’ speeches  3  Eliminating the negative output gap is an important way to normalize inflation towards our medium-term objective.
But not all of the challenges facing us are man-made. While growth in the developing economies is more positive, the global economy and developing economies in particular are facing new danger, and that is the sudden emergence of a possible food crisis which can only exacerbate the fragile social situation in many countries.