Financial engineering assumed the centre stage in a bid to design and offer high yielding products to investors. 1  2  Bernanke, Ben, (Feb 2004), The Great Moderation. BIS central bankers’ speeches  In addition to the above factors, gaps in the regulatory framework also played their part in accentuating crisis.
Meanwhile, the year-on-year rate of change in the consumer price index (CPI, all items less fresh food) is expected to remain at around 0 percent for the time being and start rising gradually thereafter  2  BIS central bankers’ speeches  as the supply and demand balance improves in accordance with a pick-up in economic activity.