Taking the opportunity given me here today, I would like to address several critical issues related to future monetary and macro-prudential policy, and to say a few words about strengthening global cooperation to achieve financial stability.
Global financial crisis and monetary policy The global financial crisis, as we all know, started in the financial sector but has eventually led to fiscal crises in many advanced economies, not to mention a global recession. In response to the crisis, central banks around the world undertook a wide range of measures.