10  BIS Review 107/2010  But to be effective, supervisors need support from their legislatures and executive government – in having strong legislation, adequate funding, and a high degree of operational independence from the political process in the conduct of their duties. In several countries legislatures are working now, in the aftermath of the crisis, to strengthen supervisory arrangements.
For example, we are experiencing supply bottlenecks for some goods and services as demand rebounds faster than supply can ramp back up. These unique circumstances of the pandemic are now helping to push inflation temporarily above our target band.