The action taken by the supervisory authorities to ensure sound and prudent management must of necessity be complemented by the conduct and competence of bank executives: it is they, first and foremost, who must guarantee the proper functioning of internal controls, an adequate monitoring of risks, and a medium and long-term strategic vision apt for facing the challenges posed by the difficult economic phase.
Our central scenario for the Australian economy is for a further reduction in the unemployment rate and an increase in inflation towards the mid-point of the target range. Of course, this is just the central scenario, and there are other scenarios as well.