This has certainly proven to be the case in the United States, the euro zone, and the United Kingdom. There could, of course, be extreme cases that might call for an immediate policy response from the Bank rather than waiting for the next scheduled announcement date. The new arrangements would not preclude such an option.
We can help each other develop financial markets by sharing our experience with products, regulation and supervision, and the regional offices of the IMF and the World Bank here in Vienna will certainly lend us their support. At the same time, the OeNB stands ready to act as a fair broker for European economic integration.