Today I have shared with you two reports that reflect the institutional vision of the Central Bank on the macroeconomic picture, the outlook for inflation, the financial risks and the orientation of the policies that are our responsibility. These reports reflect how internal analyses and discussions operate in a shared vision and in institutional decisions. We have also tried to illustrate how the Bank's work on its two objectives of price stability and financial stability complement each other, strengthening our action in both dimensions. We are convinced that this action will boost the country's economic stability, reducing the risk of volatility and financial turmoil. However, as we have argued in the past, the Central Bank cannot, using its toolkit, avoid or reverse cycles, drive long-term growth or replace responsible behavior of economic agents. This challenge involves other financial, economic and political players. We hope that the Bank's diagnosis and action will contribute to this community of purposes. Thank you. 12  Figure 1 Inflation indicators (*) (annual change, percent)  8  8 CPI  Services EFE  6  6  4  4  2  2 Goods EFE  CPIEFE  0  0  -2  -2  -4  -4 13  14  15  16  17  (*) As from January 2014 the new indexes with annual base 2013=100 are used, so they are not strictly comparable with earlier figures. Sources: Central Bank of Chile and National Statistics Institute (INE).
The learning and sharing among peers will also encourage cross-fertilisation of ideas, identification of best practices, and collaboration in green investments. 11. Asia is a good starting point for this global alliance. It represents a good mix of developed and emerging economies at different stages of economic development. Each has its unique set of environmental challenges but together we share a common commitment to creating a greener and more liveable region. Closer to home, Hong Kong hosts three quarters of the world’s 100 largest banks, with many of their Asia Pacific headquarters based here. So, we are uniquely placed to serve as the testing ground for the Alliance by connecting banks in the region to their global peers to facilitate sharing and learning. We are confident that the experience gained in Asia will provide useful insight and reference for the IFC to promote green banking in other parts of the world.10. Equally important, by helping banks build their capacity, the Alliance will complement the efforts of banking regulators across jurisdictions to enhance the banking sector’s management of climate-related risks and promote sustainable banking. Participating banks will benefit greatly from the IFC’s wealth of knowledge and expertise in the field of green finance. The learning and sharing among peers will also encourage cross-fertilisation of ideas, identification of best practices, and collaboration in green investments. 12. The Alliance is a new initiative for both the HKMA and the IFC. Today marks the first step of an exciting journey.