Both upside and downside risks persist also in import prices, particularly international commodity prices. II. Monetary policy  Next, I would like to turn to the Bank’s conduct of monetary policy under the current economic situation.
What about the vision of a Government-sponsored business or development bank, which recently has come back into vogue? There is a long and chequered history of such entities, and a sizable literature evaluating their successes and failures. Before the crisis the failures seemed to outweigh the successes by so much that few observers saw much value in reintroducing national development banks.