Jürgen Stark: Main challenges for monetary policy in a globalised world Speech by Mr Jürgen Stark, Member of the Executive Board of the European Central Bank, at the Conference “Monetary Policy in Sub Saharan Africa: Practice and Promise”, Cape Town, 28 March 2008. * 1.
*  *  Introduction  The issue I have been invited to reflect upon today, namely the challenges to monetary policy in an increasingly interdependent world, is a topic that ranks highly on monetary policy makers’ agendas. The ongoing global financial market turmoil reminds us that no country is immune from economic and financial shocks originating outside the boundaries of its jurisdiction.