These indicators differ in terms of representativeness, periodicity, timeliness, breakdowns, and length of the time series. These data show that the prices of both residential and commercial property have risen considerably since 2010 (Figure 4). Owner-occupied housing is currently about 25 per cent more expensive than in 2010, and prices for multi-family dwellings have increased by about 40 per cent.
But this does not guarantee the success of monetary policy formulation and implementation especially, in an uncertain future. The challenges we are faced with have certainly escalated in recent times. However, with the new challenges we also have new opportunities to get a greater understanding of the dynamic and ever-changing economy we need to deal with. Thank you very much. References Blanchflower, D. 2009.