3  Since my views on the current economic circumstances and policy challenges have already been circulated in the results of several meetings, including with Director Generals and General Managers, those on my four years at the BOK have been published in Bank of Korea News (March 2014 edition), and those on other policy reforms have been presented to BOK staff on many occasions, I will not repeat them here.
2  BIS central bankers’ speeches  instrument, and had to newly develop non-conventional instruments since their interest rates had already hit the zero lower bound. EMEs, with their original sin, i.e. their inability to borrow abroad in their own currencies, have had to put priority on dealing with the negative spillovers from AEs’ QE policies.