Needless to say, the most important post-COVID challenge is that when the economy starts recovering and inflation begins to drift upwards, we have to make sure that we are able to find the right balance in our monetary stance that, at one level, would not result in a premature tightening of monetary policy while also guarding against a delayed response that would reverse a sustained downward trend in inflation expectations.
An additional challenge is to ensure that we are able to come to grips with the role of monetary policy relative to what we think potential growth is. This will serve as an 7  important backdrop to opportunities or constraints that will exist for monetary policy in the future.