Once prices start to rise, this will further induce a rise in inflation expectations, which in turn work on real interest rates to decline again. In such a manner, a virtuous cycle starting from a rise in inflation expectations will take hold. BIS central bankers’ speeches  3  III. How far have we come?
With these few remarks, I wish to once again congratulate the Republic of South Sudan and the Bank of South Sudan for launching its new Currency. Thank you and God bless. BIS central bankers’ speeches  1