Nonetheless, it appears most probable that the necessary slower absorption of labor into employment will reflect, in part, a deceleration of output growth, as a consequence of evolving market forces. Failing that, firming actions on the part of the Federal Reserve may be necessary to ensure a track of expansion that is capable of being sustained.
The title of this event will be “The market for retail financial services: development, integration and economic effects”. Details of the programme and a call for papers can be found on our website. We look forward to receiving contributions of the same high quality as those presented over the last two days. Thank you. 4  BIS Review 18/2008