help return inflation to the target within a reasonable time horizon. our commitment to price stability aims to preserve the purchasing power of the family incomes and the value of household savings ; preserve financial stability and create optimal credit conditions ; as well as help the private sector to make reliable business and sustainable investment plans. most importantly, our projections, which benefit from the same models and research analysis, suggest that the current round of policy rate hikes will not be recessionary. the albanian economy will continue to grow in the medium - term horizon. in this respect, the recent increase of policy rate which aims to preserve price stability and anchor inflation expectations, is simultaneously a measure for protecting the economy ; 2 / 4 bis - central bankers'speeches the private sector ; and the households, from the negative effects of inflation. this is especially supportive and important for the low income groups, which are hit harder by the negative effects of high and persistent inflation. however, the general public must understand that the outlook is subject to considerable uncertainty, and amidst such profound uncertainty, amplification mechanisms may arise from multiple channels, due to the close interconnections within the global financial system. i am happy to see that all these issues will be discussed in depth during this workshop. in fact, the agenda is quite rich and covers a vast variety of research topics related to monetary and fiscal policy, financial stability, policy coordination, risk assessment and management through macro - prudential policies, with a special focus on price dynamics and soaring inflationary pressures witnessed worldwide, and the associated challenges they poses to policymakers, at both macro and microeconomic perspectives. we are all waiting impatiently to hearing what the respective speakers have to say about the duration and the intensity of such pressures and any potential implications for monetary policy. i am sure it will provide an excellent opportunity to gain new insights from academic research. looking forward, beyond the dramatic events we are currently witnessing, technology coupled with the transition to an economy with net - zero carbon emissions will continue to shape the evolution of markets and of both traditional and new financial service providers. therefore, additionally to the traditional issues of monetary policy and central banking, an exceptional attention during the workshop will be given to climate change related risks and green finance - which have turned into the " leitmotiv " in the communications of many central banks, and european and international institutions, - digitalization of financial services and technological improvements, and their implications for central bank objectives. i am confident that the research papers on these "

, a reflection on fundamental value systems that ultimately shape individual actions, with greater premium placed on responsible and ethical behaviour, and the regulatory changes taking place. new imperatives for talent development in the financial sector having the required talent will be a key pillar in managing the challenges confronting the asian financial sector moving forward. the increased demand and competition for highly - skilled financial professionals in the financial sector continues to be fierce. in malaysia, demand is expected to be particularly pronounced for specialised skills in risk management and high growth and niche areas. at the same time, the new financial landscape also raises critical leadership and organisational challenges, particularly as banks in asia become larger and more complex with increasingly diverse geographical and product markets. this underscores the need for financial institutions to be helmed by world - class leaders, with critical strategic and leadership capabilities to build institutions that are dynamic, resilient and agile in the face of a more challenging operating environment. in line with the increasing regional character of the financial sector, there will also be a greater emphasis on talent that better appreciates national and cultural differences. meanwhile, boards of directors are also be expected to have a more effective role in providing independent oversight and strategic guidance that promotes the long - term resilience and continued viability of financial institutions. these imperatives translate into significant demands on human capital development. new talent development strategies are needed, as well as a critical re - assessment of the existing content and approach to training for the financial industry workforce to ensure their continued relevance, within a broader regional context. this represents a significant challenge and an important priority for asia. in order to bring talent development to the next level, there is scope to pursue meaningful strategic partnerships in financial sector education and training. with growing cross - border linkages of the region ’ s financial systems, there are significant benefits to be gained from improving the quality and consistency of standards in financial sector training in the region. bis central bankers ’ speeches on collaboration in financial industry training this conference represents a unique collaborative opportunity to discuss current issues and trends in human capital development in the banking sector across different financial systems within the asia pacific region. the efforts of apabi in providing this platform should therefore be well leveraged by its member institutes. given the varying levels of financial sector development across the region, there will be tremendous benefit in the sharing of ideas and methodology on human capital development especially in newly introduced areas in banking and finance. in malaysia, our approach to human capital talent development is also founded on the collaborative