Simultaneously, we have to work to build international consensus on policy coordination among advanced and emerging economies for minimising the spill-over and spill-back impacts of the policies of the former on the latter. 22. 8  Thank you all for your attention. BIS central bankers’ speeches
Intertwined with financial market turmoil is risk aversion to financially innovative products, and investors’ move to global commodities whose demand pressures broke all historical price behavior patterns and reached new levels. This price spiral of strategic commodities such as oil, wheat and other products has created dilemmas as pass-through mechanisms are augmenting inflationary pressures, while not passing through this is complicating macroeconomic management. 34.