On the whole, however, overall GDP growth slowed due to the fall in mining output, a trend that continued into the first quarter of 2008/2009. It is against this background that the conduct of monetary policy in 2008 took account of various factors that influenced prices. For this reason, monetary policy action was not expected to have an immediate impact on inflation.
Many regulatory requirements have been necessary precisely because banks’ systems are not integrated. Only a holistic cross-business approach can take IT financial architecture to the next strategic level. Ladies and gentleman Thank you very much for your attention. 7  This body comprises representatives from the supervisory authorities of 10 countries, which are responsible for the world’s largest banks.