At the same time, the substantial reduction in key ECB interest rates since October 2008 appears to have been passed through to lower bank lending rates, thereby easing financing conditions for companies and households. Moreover, there are some indications that the pace of tightening of bank credit standards is stabilising, albeit at high levels by historical standards.
Our main priorities are: To improve macroeconomic modeling and stress testing to account for climate-related risks such as non-linearities, sectoral adjustments, and tipping points. To enhance transparency by creating disclosure standards, closing data gaps, and building platforms for data. By making disclosure standards mandatory for their own policies, central banks can be important catalysts for change on financial markets.