Financial stability and monetary policy: from low-for-long to the new normal Keynote Konstanzer Seminar 24.05.2023 | Konstanz | Claudia Buch  Check against delivery. 1 The low-for-long environment of the past decade has been exceptional. 2 The low-for-long interest rate environment has had implications for the financial sector.
The global economy expanded rapidly in 2006, and while some moderation is projected this year, global activity is expected to continue to grow strongly. Economic growth in the euro area increased by 2.7 per cent in 2006, its fastest pace in six years, and activity has remained robust in the first half of this year.