As the oldest Rotary Club in Asia, dating back to 1919, RCM will turn 97 years old this year. Few organizations last for nearly a century, much less remain dynamic, relevant and influential, like RCM. For this, the men and women of the RCM deserve our congratulations!
In the face of such a disturbance, the medium-term horizon affords some time for the shock to work its way through the economy and allows the ECB to “look through” it to a time when the shock is forecast to have subsided. This in turn ensures that the central bank is not forced to introduce further macroeconomic volatility.