Ladies and gentlemen, I have talked about the challenges and policy tasks that small open economies currently face. It seems that monetary policy measures alone cannot resolve these multi-faceted difficulties. I would stress that we need to pursue efficient mixes of monetary, macroprudential and structural reform policies, as well as strive for international cooperation.
I hope that today’s conference serves as an excellent venue for lively discussion and the free exchange of ideas regarding how to address these challenges. Thank you. 2  BIS central bankers’ speeches