Also before the outbreak of the current turmoil the Great Moderation and the Great Disinflation had been widely applauded. The lesson one can draw is, maybe, that it is better not to be too complacent in good times. Some literature has recently been published that considers a potential trade-off between price stability and financial stability.
With these few remarks, Ladies and Gentlemen, it is now my distinct honour and pleasure to declare the Safaricom and Moneygram Money Transfer Partnership officially launched. Thank you. 2  BIS central bankers’ speeches