Financial markets and prices

The financial crisis exposed numerous structural imbalances in the banking and corporate sectors. Important steps towards restructuring both sectors were taken with the launch of bank restructuring and privatisation. In recent years, the financial system operated in an environment of highly accommodative monetary policy, which responded to challenges in the economy. In response to rising inflation, central banks accelerated the normalisation of monetary policy, creating an additional challenge for both economic activity and the maintenance of financial stability.