In the euro area, the European Central Bank has been raising its policy interest rate amid appreciation of the euro, and the sustainability of economic recovery should be watched carefully. In Germany, fullscale fiscal consolidation has started; for example, the value-added tax rate will be raised from January 1, 2007, and such measures may place downward pressure on the economy in the short term.
The FIU has explicit power to gather, analyse and disseminate information. BIS Review 36/2003  1  In the last few years we have made a great leap forward in improving the regulatory and supervisory infrastructure in Mauritius. We have since quite sometime adopted a prophylactic approach in our regulatory and supervisory policies in respect of our banking industry.