It is my pleasure to present the BIS’s Annual Report for 2022/23. The report highlights our commitment to global monetary and financial stability, and our ongoing role as the global forum for central bank cooperation. It also documents the progress made in advancing our Innovation BIS 2025 strategy. The past year has challenged central banks. High inflation and financial stability concerns emerged in tandem. At the same time, digital innovation, particularly in payment systems, gathered pace. The global inflation surge that began in 2021 has started to subside. But, in most countries, inflation remains far too high. ... (full story)