When central banks are celebrating success, new problems may be beginning to emerge in the private sector quietly. By the same token, when central banks are facing difficult challenges, the green shoots to resolve the problem may already be beginning to grow in the private sector. Risks always materialize but in new appearance.
In this regard, central banks need to continuously be in a learning mode. As with private-sector economic entities, complacency is the most dangerous risk for central banks. We need to be humble as numerous challenges await the global economy.