Peter Praet: Global monetary policies - similarities and differences on the way to the new normal Remarks by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the GIC/SUERF/Deutsche Bundesbank Conference "Monetary and economic policies on both sides of the Atlantic", Frankfurt am Main, 8 February 2018.
Here also, however, important changes took place after October 1996. The improvement in the domestic economic situation and in the current account of the balance of payments restored some confidence in the market for foreign exchange, particularly as the foreign reserves started rising again in the fourth quarter.