BIS central bankers’ speeches  7  Concluding remarks I have so far described the policy effects of the QQE, based on the situation in financial markets as well as in economic activity and prices over the past three months. The QQE itself is an extremely powerful policy, but it will exert maximum effects when combined with the various measures by the government.
We concern ourselves, directly and through our work in the regulatory and supervisory ecosystem, with the functioning of the financial system with the aim of ensuring that it is serving the needs of the economy, consumers and investors. My key message today is a comprehensive approach to financial stability is needed – not just at national level, but also at a European level.