And, we have begun to offer a more fulsome description of how those risks are entering our policy deliberations, particularly in the opening statement that precedes our press conferences.
Overall, being responsible for monetary policy means that central banks have an intrinsic and deep interest in a stable financial system. It is therefore desirable that central banks also play a role in financial stability policies, both at the micro and macro levels. The reasons for this are manifold. Let me mention three.