CONTENTS
HOME
OUR WORK
Managing Risks,
Emerging Stronger
TUMULTUOUS
YEAR FOR THE
GLOBAL ECONOMY
MONETARY POLICY
AN UNPRECEDENTED CRISIS
INTEGRATED
APPROACH TO
FOSTER SAFETY AND
SOUNDNESS OF
FINANCIAL
INSTITUTIONS AND
FINANCIAL SYSTEM
BUILDING ON OUR
FUNDAMENTALS,
PREPARING FOR
THE UPTURN
ENHANCING
OPERATIONAL
CAPABILITIES AND
RESILIENCE
CURRENCY AND
PAYMENT SYSTEM

TUMULTUOUS YEAR FOR THE GLOBAL ECONOMY

2008 was a tumultuous year for the global economy. While the surge in commodity prices led to strong inflationary pressures in the first half of the year, the onset of the global financial crisis caused world growth to fall sharply in the later part of 2008 and into early 2009. The emergence of the Influenza A(H1N1) virus in recent months has added a new dimension of risk to the fragile global economy.