Robustness in that context implies a  BIS Review 27/2008  1  broad analysis of monetary and economic indicators. But it also means a clear and wellknown strategic framework that puts price stability to the forefront. To put it in Dylan’s words: globalisation certainly “holds the wheel in spin”.
But it does not change the fundamental direction of a stability-oriented monetary policy, nor the need to take a medium-term view, because “the times, they are a-changin”. 2  Globalisation: basic remarks and characteristics  Let me start with some basic observations regarding globalisation. Globalisation is a term referred to pretty often in the media, and by politicians and economists.