The recent monetary policy easing should be seen in the context of alleviating some  BIS central bankers’ speeches  5  of the strains in the economy, but we emphasised that monetary policy cannot solve the underlying problems of the economy, which will still exist even if the global economy recovers sooner than expected.
We need to recognise the structural nature of the challenges facing the economy, and in addressing them we can reduce our vulnerability to global headwinds. These include addressing the structural nature of unemployment, and require concerted policy coordination across government departments, and between government, the private sector and civil society.