* * * Check against delivery Good afternoon, Ladies and Gentlemen: It is my pleasure to welcome you today to our macroprudential policy conference, albeit not in our beautiful capital Vilnius, but in an already-traditional – virtual – format.
In inflation targeting countries, central banks gradually increased their policy rates, with the intensity and pace of the response more pronounced in countries where both domestic demand and labour market conditions had an inflationary impact. Did the reaction of Serbian authorities come too late? It did not.