True, it was only one quarter's information and that was not enough to change our numerical forecast of inflation, but it did lead us to conclude in our May Statement on Monetary Policy that there was no longer an upward risk to our inflation forecast. The subsequent set of data confirmed a similar picture.
This complex process falls within the technical expertise of professional actuaries. In fact, professional actuaries are the key players in the process. 7. Viewing from a more macro perspective, the volatility of financial markets around the world underlines the imperative nature of risk management in maintaining stability of our global  2  BIS Review 13/2008  financial system.