Woodford is one of the most respected academic authorities on monetary policy, so everyone listened closely. In his presentation, Woodford stated that it is better to announce very precise and firm commitments about future policy intentions rather than make vaguely  4  BIS central bankers’ speeches  worded statements. In particular, he recommended including strict economic conditionality in the forward guidance.
1/2  BIS central bankers' speeches  Forthcoming initiatives include developing a standard loan application form (SLAF) for small business loans to address sector preference for simplified and streamlined loan application requirements. We have an upcoming study to inform strategic interventions towards developing a supply chain finance (SCF) market in the country.