As so often in recent years, I will take, as my starting point, the global crisis of 2009–2010, and the risk reassessments that banks, investors, researchers and decision-makers all over the world were forced to make as a result of the crisis. Legacies of this crisis amid continued globalization is significantly reshaping the global and regional economic and financial landscape.
At its last meeting on January 23, it kept monetary policy implementation unchanged, and noted that incoming data during the previous month were in line with baseline scenarios of ongoing but moderate growth in the euro area. It further concluded that risks remain tilted to the downside, but that some of the downside risks in the global economy have become somewhat less pronounced.