“Leaning against the wind” and monetary analysis The best way to manage a crisis is to avoid it. Given the important role played by asset markets in recent macroeconomic dynamics, the experience of the past few years has given renewed impetus to the debate on asset prices and monetary policy.
In the pursuit of financial stability, the Bank regularly assesses the soundness of the financial system and publishes a Financial Stability Report twice a year. Regular stress tests are carried out to gauge whether it can safely withstand a variety of extreme but plausible macroeconomic shocks. The Bank is moving to a full-fledged risk-based supervisory framework.