ICT revolution) and those that will occur in the future. BIS central bankers’ speeches  5  Nevertheless, as correctly pointed out by the optimists the underlying rate of technological progress has not slowed and the ICT revolution will continue transforming the firms operating at the technological frontier.
This outlook depends on keeping the ample degree of monetary policy stimulus in place, as this remains necessary for underlying inflation pressures to continue to build up and be maintained over the medium term.