What the future holds – Benefits and limitations of forward guidance Speech at the European Banking Congress 22.11.2019 | Frankfurt am Main | Jens Weidmann  1 Introduction  2 Clarifying the reaction function  3 Lower for longer  4 Achieving price stability in the euro area  5 Conclusion  1 Introduction Ladies and gentlemen, More than 200 years ago, French scientist Pierre-Simon Laplace proposed that the universe was essentially deterministic and, hence, predictable.
While the BSP has in the past, crafted FSRs for its internal use, the 2017 FSR we issue today emphasizes the consultative and collaborative nature of the FSCC. The report is tangible and clear output which leverages on the respective expertise and insights of FSCC member-agencies. The 2017 FSR will be publicly accessible on each of our individual websites.