However, we need to recognise that the global financial crisis was not just a temporary interruption, and that we will soon return to the period of strong profits and quick and easy returns. As we gain more perspective on the global financial crisis it is becoming increasingly clear that the boom years immediately before the crisis were the exception rather than the rule.
As a member of the Policy Board, I strongly object to these views. As I have repeatedly said, each member is fully prepared to give his or her views on the economic situation and the appropriate direction of monetary policy before attending an MPM.