At the same time, we are also fully aware that this strength is not absolute nor is it permanent. Therefore we continue to be watchful and anticipate changes that are likely to occur moving forward.
With this in mind, I’d like to spend the next few minutes to look at three key risk factors that could challenge our position of relative strength: 1) divergent monetary policy in advanced economies, 2) weaker growth prospects in Asia, and 3) volatility in oil prices. BIS central bankers’ speeches  1  First risk is the market interpretation of the Fed’s actions.