2 The Bank is working with its domestic partners and is using its positions on the Basel Committee of Banking Supervision, at the Financial Stability Board, and in the G-20 to advance this goal.
Nevertheless, it is clearly desirable for policy to be predictable in order to reduce uncertainty and volatility in financial markets. So, why does the monetary authority not always satisfy the expectations of financial markets? There are a number of possible explanations that I would like to highlight. However, before doing so, there is one point that I would like to emphasise most strongly.