We have a strong focus on doing what is right for the country as a whole over the medium term, even if it is difficult for some people in the short term. Today's decision by the Board is an example of that. I would like to take this opportunity to pay a tribute to two Reserve Bank Board members who will soon be retiring.
Improving confidence is one of the necessary conditions to overcome the present woes. The European Central Bank and its Governing Council do everything which is possible to preserve, enhance, strengthen confidence. More than ever our institution has to be an anchor of stability, therefore an anchor of confidence, in these uncharted and turbulent waters.