In the prevailing difficult global conditions uncertainty is at an even higher level, and many of the actions taken have no precedence. It is therefore incumbent upon central banks to share information and together learn from our collective experiences.
As the lines between the various mandates become increasingly blurred, there is a danger that the burden of expectations could be excessive, and ultimately undermine confidence and credibility in central banks themselves. These challenges are being considered by central banks and others, and require that all of us better understand the immediate challenges of the mutating, extremely severe global financial crisis.