I remain solely responsible for the opinions contained herein. Ladies and Gentlemen, It is a great pleasure for me to be here at this Euromoney conference. Today I’d like to consider the impact that volatile interest rates may have on the financial system.
However,  some central banks, particularly in emerging market economies, 10  increased their policy rates in 2021 responding to the rising inflationary pressures. Moreover, some central banks in the advanced economies signalled that they would tighten policy rates, going forward, to control inflation and, in some cases, taper the asset purchase programmes introduced in 2020 to support the financial sector.