And new challenges have arisen in the face of an uncertain economic outlook, especially given the weakness in emerging markets and in commodity-producing sectors. So are there ways that policymakers can reduce this uncertainty? One topical issue is, of course, whether monetary policy is contributing to weak profitability.
While the possibility cannot be ruled out that the increase in oil prices as such may temporarily dampen growth dynamics over the short term, the forces underlying solid growth in the medium term remain in place.