The idea is to avoid unnecessarily large fluctuations in output and resource utilisation at the same time as inflation approaches the target within a reasonable time horizon. The Riksbank's other measures, such as lending denominated in both Swedish krona and US dollars, have resulted in a general functional improvement, primarily in the Swedish credit markets, thereby also creating conditions for the markets to return to more normal conditions and allowing financial stability to be maintained – which in turn is a requirement for conducting an effective monetary policy. During the current crisis the Riksbank cooperates closely with other regulatory authorities to handle situations that arise to achieve the best possible outcome. The Riksbank's frequent contacts with Finansinspektionen, the Swedish National Debt Office and the Government Offices play an important role in crisis management. Like other regulatory authorities, the Riksbank also has frequent contacts with its foreign colleagues. Central banks around the world are also working to improve the functioning of the financial markets. In addition, governments in the United States and the EU have adopted bailout packages to support the financial system. In Sweden, the government launched a guarantee programme and a regulatory framework that improves the ability to handle banks in crisis in an orderly manner. Having such regulatory frameworks in place is extremely important. It is still too early to say how soon all the measures that have been taken will have an effect and result in a return to more normal conditions in the financial market.
Its successful realisation will enable our economy to grow at a fast and steady pace, and will mark a step forward in our journey towards EU integration. On behalf of the Bank of Albania, let me affirm our readiness to rise to the challenge. I am also confident that today’s conference will provide a significant contribution to finding optimal solutions. Hoping that you will find the Conference and your stay in Tirana both valuable and enjoyable, I wish the conference a great success! Thank you for your attention! 4/4  BIS central bankers' speeches