I would also like to explain the Bank's decision to raise the policy interest rate at its Monetary Policy Meeting (MPM) in February as well as the thinking behind its conduct of monetary policy. I. Overseas economic and financial developments  Let me start with overseas economies.
I would like to take this opportunity to thank my predecessors for their efforts in taking forward the work of the ECRB. I look forward to following in their footsteps and contributing to the excellent work being undertaken on cyber resilience at the European level. Protecting the integrity of the financial system, and maintaining confidence in it, is critical.