I will also seize this opportunity to share a few personal thoughts on how the EMU’s governance could be further improved over the years. These reflections will be structured in two parts. In the first part, I will briefly highlight the ongoing challenges for the single monetary policy, and touch upon the macroeconomic outlook for the euro area.
It should become the epicentre for promotion and exchange of views and knowledge-sharing, while also remaining focused on delivering clear cut 1/2  BIS central bankers' speeches  objectives within reasonable timelines. 7. RBIH should aim to establish itself as a respected innovation and incubation centre, and showcase India’s commitment to openness of ideas, resolve to innovate, with underlying concern for inclusive growth.