the ECB and the euro area national central banks - has undergone and, I believe, successfully passed - a special test on “Monetary policy under uncertainty” in managing the transition to EMU and in conducting monetary policy during the first one and a half years of the euro area’s existence.
We need to make it easier and cheaper to borrow and loan accounts will grow from the current 2 million accounts compared to 14 million deposit accounts. On the demand side, demand for loans is lagging because of costs. The CBK will is to create a conducive business environment for the sector to operate efficiently, effectively and soundly.