Rather, economic and institutional policies can help accelerate the impact of our measures. Structural reforms can reduce the transmission lag of our policy, since a more flexible, more responsive economy is likely to transmit monetary impulses faster. And institutional reforms can reduce uncertainty about the future setup of the euro area, which weighs on expectations and holds back investment.
2/4  BIS central bankers' speeches  In many respects, the work of banking supervisors and external auditors may be perceived as complementary as they often look at the very same issues from a different point of view.