Indeed, maintaining measures which have outlived their usefulness for too long could trigger other types of imbalances which could contribute to a new crisis in the future. For example, if support for the banking sector is provided for too long, banks’ incentives to resume market-based funding activities may suffer and markets may become increasingly dependent on central bank funding.
There are many factors behind the constant changes and increasing complexity and thus growing requirements: political decisions, such as establishing monetary union, the advance of globalisation and new technical innovations all require a continual examination of brand new processes and a high degree of mental flexibility. Today’s central bankers have their finger on the pulse – “action” is guaranteed.