The asset share of foreign-owned banks in the new Member States increased enormously in recent years and  BIS Review 24/2005  1  now stands on average at 70%.
The August forecasts First off, I want to set the scene for where we were three months ago. Internationally, inflation was at multidecade highs in many countries. Although energy was a large part of this, there were also broad-based price pressures from strong demand meeting supply constraints for both labour and goods. As a result, central banks were increasing interest rates quickly.