Private financial asset formation has fallen from slightly more than 13% at the time of German unification to 10% of disposable income in 1998. Given the continuing decline of interest rates, yield-oriented investors preferred forms of saving with a comparatively favourable return or a correspondingly high potential for capital gains.
As Governor of the Central Bank, I look forward to the ongoing commitment and professionalism of all staff to continue upholding the credibility of our institution and to achieve the strategic objectives set out in the plan. I also look forward to building on the good collaboration that we have with all our stakeholders represented here today, in taking this plan forward.