6  Grenville S and T Ito (2010), “An Independent Evaluation of the Bank of Thailand’s Monetary Policy under the Inflation Targeting Framework, 2000–2010”, available at <http://www.bot.or.th/Thai/MonetaryPolicy/ Documents/GrenvilleItoV10(Oct22).pdf>  7  Stevens G (2006), “Risk and the Macroeconomy”, Address to the 2006 Securities & Derivatives Industry Association Conference, RBA Bulletin, June, pp 8–17.
2  BIS central bankers’ speeches  higher leverage exposed people to more distress if and when a large negative shock eventually came along.