Implications for Policy Approaches The fundamental shifts at the core of the economy shape my approach to policy. As we are assessing the dynamics of the macroeconomy amid rapid changes, we will be watching the data closely and applying rigorous analysis. My focus is on progress toward our goal.
Business and consumer confidence indicators have trended upwards over the last few quarters and the Eurosystem staff macroeconomic projections, as well as those of other organisations, foresee a further rebound in GDP growth in 2010 and 2011. The outlook for growth is also supported by the improvements that we see in the financial market.