17  De Walque et al. (2010). BIS central bankers’ speeches  7  As macro-prudential policies are developed and become effective, there will be a need for further international cooperation.
(2019), What the future holds – Beneﬁts and limitations of forward guidance, Deutsche Bundesbank, speech of 22 November 2019. 20. European Parliament (2019), Draft report on the Council recommendation on the appointment of the President of the European Central Bank, Committee on Economic and Monetary Affairs, 29 August 2019. 21.