However, for the information they transmit to be trusted and influential, the accuracy of analysis as well as a fair and neutral perspective will be inevitable elements. As for a specific angle of analysis and message to be emphasized, individual securities analysts should devise ways by fully utilizing their respective expertise and knowledge.
It is against this background that the Governing Council kept the level of key ECB interest rates unchanged earlier this month, regarding the current level as appropriate. The significant monetary impulse stemming from our interest rate reductions last year has spread to market interest rates, and the transmission to rates charged by banks to households and corporations has continued to perform well.