Ferguson declined to answer specific questions on monetary policy, but noted the markets closely scrutinize all economic data. Referring to the G10 report, he acknowledged an acceleration of consolidation among financial institutions in the past few years, adding that crisis prevention initiatives and crisis management strategies can be improved.
The report found that while consolidation had the potential to improve efficiency in merged institutions, the overall evidence in favour of these gains was weak. The study concluded that central bankers need to be alert to potential reductions in the markets' competitiveness.