First, we will look through its immediate and temporary negative effect on total consumer price inflation. Second, we will closely monitor its broader impacts on growth and the delay it may cause to the economy’s return to its production potential. We will also watch for any impacts on the rotation of demand that we have begun to witness. Conclusion Allow me to conclude.
The recent movements in oil prices have been dramatic, but they are not random. Once we sort through the different economic forces at play, we see that underlying the recent drop in  6  BIS central bankers’ speeches  oil prices is a surge in unconventional oil supply against the backdrop of slower growth of global demand.