It is clear that other countries, many of which are less far along in reaping the benefits associated with the revolution in information technology, have the potential to gain more over the period ahead.
Challenges also remain outside the financial system, with for instance geopolitical risks remaining elevated, trade disputes or cyber-risks. As central banks, we have to be prepared for all contingencies. For someone like me, with deep interest in economic history, it is clear that “those who can’t remember the past are condemned to repeat it”.