While central banks potentially may respond simply by adjusting policy by more than they would otherwise do, it raises the question whether other policy tools, such as asset purchases, can be used to support aggregate demand. Finally, unemployment rates have risen sharply and risk putting central banks under strong pressure to pursue expansionary policies.
Fourthly, I will talk about the necessity of ensuring a level-playing field, for all credit bureau participants by minimizing the monopolistic elements that exist in the credit bureau industry.