The new regulatory measures, which are designed to have a longer-term impact, are focused less on the acute management of the crisis and are geared more to preventing new crises from emerging in the future in the first place.
Meanwhile, in the area of macroeconomic policy, it was supposed that, macroeconomic stability would be achieved, if central banks would implement monetary policy with a view to  BIS central bankers’ speeches  1  reducing the variability of inflation at around a certain level. The nexus between price and financial stability, however, was not adequately addressed.