However, given the quality of papers that will be discussed in the course of this conference, I am convinced that useful policy recommendations will emerge at the end of the different sessions. I thank your for listening. 4  BIS Review 62/2004
If new negative shocks should worsen the outlook or if financing conditions should not adjust in the direction and to the extent that is necessary to boost the economy and inflation, a rate reduction remains in our armoury. On corporate bonds purchases: would this instrument be accessible for companies like, let’s say, Volkswagen? Yes, as long as they have investment grade.