Moreover, time-varying macroprudential policies may also give monetary policymakers more of an opportunity to assess whether the asset inflation is generalized and sustained enough to warrant a change in monetary policy.11  8  See Daniel K. Tarullo (2013), “Macroprudential Regulation,” speech delivered at the Conference on Challenges in Global Financial Services, Yale Law School, New Haven, Conn., September 20.
BIS central bankers’ speeches  9