BIS central bankers’ speeches  7  (v)  Financialisation of commodities – a new source of price pressure  23. Some analysts contend that speculation in commodity futures has been a key driver of global food inflation in recent years. In general, there has been a marked increase in financial investment in commodity markets, relative to both global GDP and physical commodity production.
Other lessons concern the construction of Europe, where we have to make a quantum leap in strengthening the governance of economic policies and surveillance. If we do this, I believe that we will exit the crisis with a policy framework that will be much better and stronger than the one we had when the crisis began.