Given our uncertainty about the level of potential supply and thus the level of the output gap, observing stable inflation will also be particularly important. Moreover, the low current levels of inflation and resource utilization imply, from my perspective, that the welfare costs of the economy running stronger than expected for a while are considerably lower than the costs of its running weaker.
The Vision 2030 has identified areas in which policy reforms can have a major impact in reducing such barriers and thus increasing the effectiveness and competitiveness of financial intermediation.