And continued weakness in housing – reflected in falling prices, low rates of new construction, and historic levels of foreclosure – has proved a powerful headwind to recovery. It is encouraging, therefore, that we are seeing signs of improvement in the housing market in most parts of the country.
*  *  *  We are today publishing the Central Bank’s 2010 Annual Report; and for the first time an Annual Performance Statement on our financial regulatory work. The latter is a new requirement under the Central Bank Reform Act of 2010.