Second, the turbulences when the bubble burst could not easily be contained by making use of traditional monetary policy instruments but necessitated unconventional measures in several  BIS central bankers’ speeches  1  policy areas. In addition, serious repercussions in the financial sector and the real economy could not be prevented.
Conclusion Let me now conclude. We are committed to bringing inflation back to our 2% medium-term target, in line with our mandate, and we will take the necessary measures to do so. But as Thomas Jefferson once wrote, "The price of freedom is eternal vigilance".