And suppose this central bank is faced with a sequence of positive costpush shocks that curb domestic price pressures for a prolonged period of time – for instance due to the gradual penetration of new technologies that boost productivity, or the emergence of new and cheaper sources of global production.
1/2  BIS - Central bankers' speeches  The insurance market in Ireland is the sixth largest in the European Union1 and we host the third biggest funds jurisdiction in the world and the second biggest funds jurisdiction in Europe2. Global regulatory and supervisory standards are critical for effective oversight of the sector.