However, with the very accommodative stance of monetary policy, we must guard against the medium- and longerterm risks of inflation and the potential for distortions such accommodation can create.
BIS Review 19/2006  1  Financial sector reforms and stability National authorities have typically adapted the design of financial sector reforms - the pace, sequencing direction and ambit - to country-specific situations, mindful of the threats to financial stability. The relevant considerations may be summarized here.