As you can see, in my view, this cannot be the case for the Governing Council of the ECB. Third, one can be sure that we will continue to analyse the situation very carefully on an ongoing basis. It is clear that if our main scenario is confirmed over time, a further withdrawal of monetary accommodation will be appropriate.
We would also like to thank all of you who have participated in the Conference. Lastly, of course, I would like to thank all of Banco de Portugal’s staff that made it into a reality. This concludes the Conference. Thank you all. 1 3/4  BIS central bankers' speeches  1 Cf.