BIS central bankers’ speeches  3  •  Prevent disorderly deleveraging and fire sales of assets, do not delay unduly necessary balance sheet adjustments. •  Provide temporary backstop to markets under stress, do not replace market functioning for too long. •  Provide short-term liquidity support, do not enter long-term credit allocation to be left to financial intermediaries.
The power tussles, tensions in various quarters of world and the resurgence of global inflation and the rising costs of energy and food, have all changed the way in which we view the world, in a very, very short space of time.