We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Dombrovskis. Based on our regular economic and monetary analyses, we have conducted a thorough review of the monetary policy stance, in which we also took into account the new macroeconomic projections by our staff extending into the year 2018.
4  BIS Review 167/2009  Lending practices The Federal Reserve has already taken steps to implement and enforce safeguards to shield consumers from hazards in the market. In recent years, we have created a blanket of new protections for consumers under the Home Ownership and Equity Protection Act, adding layers of defenses for borrowers as they participate in the economy.