As it turned out, the realignment of market expectations with those of the Governing Council was immediate and smooth. The new formulation has helped market participants to better understand our reaction function and adjust the outlook on which they base their plans accordingly. Of course, steering financing conditions – by guiding the expectations of market professionals – is only part of our task.
As we design a roadmap this morning, we should take cognisance of the enormous opportunities that sustainable finance offers. Working in silos as is the case currently will not scale up sustainable finance. We should therefore come up with a holistic roadmap that incorporates the financial sector players, regulators, development partners and the Government.