It is vital to maintain their momentum because they come at a time when the digitalisation of communication and information technology is triggering fundamental structural changes in banking and finance. The traditional retail payments business of banks faces strong competition from financial technology (“FinTech”) companies. These are not only small start-ups but also large international enterprises.
Accordingly, I would like to highlight some aspects of the link between monetary conditions and asset prices and point to areas in which the policy community could use further insight from researchers, including perhaps from this distinguished group.