That said, the Council’s advice on these matters, when it’s made, will be determined by the public policy considerations of stability and efficiency that I’ve just outlined. Not all industry participants will have the same commercial interests and not all will be of the same view as to their preferred outcome.
*** Thank you, Gabriel, and thank you to the Central Bank of Ireland (CBI) for hosting this year's conference. From the outside, central banking can look like the work of individual policymakers, parsing the data and making the hard decisions.