Strategic risks describe the impact on the business of possible changes in the wider environment, such as political, international, demographic, social, etc., and the dangers of business strategies not being adequately aligned to their operating environment. They also entail risks to the accomplishment of key business goals through loss of focus, inappropriate investment or resourcing, and reputational and communication risks.
In addition, though from a theoretical less radical point of view, market participants often criticise that the contribution of the monetary analysis to the decision-making process of the Governing Council is not as obvious as it should be.