On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

This paper offers some thoughts on the relationship between asset price developments, the conduct of monetary policy and the role of financial regulation, in a low inflation environment. It also reviews some recent episodes of financial stress and the experience of asset inflation in the Spanish...

The following extract is taken from a speech by Jaime Caruana, Governor of the Bank of Spain, as Chairman of the Basel Committee on Banking Supervision, given to the Institute of International Finance in Dubai on 21st September, 2003.

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