BIS central bankers’ speeches  3  duration and future changes, producing errors and inhibiting financial activity. The unknown market response to transitory measures complicates the operation of monetary and other policies. Incentives for the diversion of investor time and resources to lobbying efforts could ensue, making implementation difficult and potentially leading to their deferral.
Along with free pricing, removal of constraints in terms of participation, type of instruments, market infrastructure and policy environment instilled life in severely underdeveloped financial market segments.