Instead we are focussed on doing what we can to reduce uncertainty and build resilience so that the recovery can be sustained despite the inevitable shocks ahead. We are removing uncertainty with our guidance that interest rates will stay low at least until unemployment has fallen. That will boost demand. By repairing the balance sheets of banks we are putting them in a position to support the real economy. That will promote investment. And by standing ready to use the range of other tools at our disposal, we can help to avoid sowing the seeds of the next crisis. In these ways, the Bank of England is helping the British economy over the threshold and into strong, sustainable and balanced recovery. Thank you. BIS central bankers’ speeches  7  8  BIS central bankers’ speeches
At this time, it may not be possible to move towards this system as there is not enough political support and many operational hurdles remain to be overcome. Nevertheless, it is important for the IMF to continue its work on how to broaden the use of SDR in all aspects of an international currency (i.e. store of value, medium of exchange and unit of account). Ladies and Gentlemen, 10. In closing, I would like to stress that the international monetary system is certainly in a period of transition. I do not expect a big bang, but a long and gradual process arising from macroeconomic and structural adjustments. Policy dialogue and cooperation between current and prospective reserve-issuing countries will play an important role in ensuring this smooth transition. As there are so many uncertainties along the way, it would take great leadership from some advanced and major emerging market economies to move the world forward towards a more stable international monetary system. Thank you  1  The Triffin dilemma is the conflict between domestic and international objectives of reserve issuing country. This is due to its duty to supply the world with extra currency, which may cause a loss of confidence in its currency. 2  BIS central bankers’ speeches