By way of conclusion, however, let me say that I am convinced that, based on its solid background, the Austrian financial sector is in an excellent position to meet both current and future challenges. Thank you very much for your attention. BIS Review 47/2005  5
At the present time, the exchange rate movement reflects the different path of monetary policies in Europe versus the monetary policies in other important countries. Our monetary policy will stay accommodative through time for an extended period of time while other countries’ monetary policies may gradually acknowledge that recovery is taking place in their countries. You were speaking about structural reforms.