9  4  Bundesbank Monthly Report, September 2015. BIS central bankers’ speeches  A number of euro-area countries have consolidated their budgets since the outbreak of the sovereign debt crisis.
In our judgement, the housing market  BIS Review 37/2010  1  is slowly recovering, and price adjustments are done at the current low interest rate level. Budding optimism is seen among potential buyers. I usually refrain from official predictions of interest-rate developments. But today, I will make an exception.