Some of the improvement in financial conditions among businesses is due to significant belt-tightening by many firms. Over the past few years, the drive to cut costs and boost efficiency has generated rapid productivity gains.
I certainly welcome all initiatives that will deliver innovative financial services to the public. BIS central bankers’ speeches  3  I wish you every success in your future plans and I have now the immense pleasure of launching the CIM Visa Card. Thank you for your attention. 4  BIS central bankers’ speeches