And it has warned against committing to the very expansionary monetary policy stance for too long, and has called for policy options to be kept open. For one thing is quite clear through all the uncertainty: the ECB Governing Council must act and must adapt its monetary policy stance where doing so is needed to safeguard price stability.
In the year 2002, the Luxembourg banking sector has seen its net results deteriorating on an aggregated basis by 6%, although the evolution is unequally spread among the individual financial institutions.