For the rest of the talk I’ll only refer to the point estimate, but it should be taken as understood that there is always a band of uncertainty around our estimate of neutral. 3  Here I am talking about neutral nominal interest rates.
The second challenge faced by banks in recent years was that not long after the banking sector had begun to adjust to operating with a new currency - including all of the efforts that this entailed - an exceptional series of adverse events followed in quick succession.