We make choices and judgements about the path of inflation we will aim for over the medium term, and what risks need to be taken into account. The judgements are complicated by the lags with which monetary policy acts on the economy, and the uncertainty involved in forecasting.
Our attention remains focused on two asset classes: commercial real estate and structured securities. 2  BIS central bankers’ speeches  It is particularly in the international commercial real estate markets that pressure could resurge, especially as a lot of commercial real estate is up for refinancing.