Both projects are part of our work on behalf of a stable economy and sustainable growth. *** Distinguished guests, The rapid decline in production that the coronavirus has caused in China and elsewhere in recent weeks has rapidly and drastically reshaped the global economic outlook for the current year. 1/5  BIS central bankers' speeches  [Slide 2.
Health first – damage to the economy must be mitigated] Protecting the health of the public must take precedence during a pandemic. However, the contingency measures put in place to contain the virus also come with economic ramifications. Public authorities will inevitably play a key role in mitigating the economic damage, and that also applies to the central bank.