Central banks felt a moral and ethical obligation to expand their policy toolkits in responding to such challenges. In my opinion, there has come a time for central banks to move forward, by taking the role of institutional leadership, on top of the policy excellence they have always delivered.
2  BIS central bankers’ speeches  Distinguished Guests, Ladies and Gentlemen, Looking from a central banker perspective, to stay relevant, resilient, and agile, I agree that policy makers should be more inventive in tackling global challenges. The prime challenge has been how to nurture the sustainability of growth while keeping monetary and financial stability in check, including mitigating the risk of capital reversals.