From this year, the Institute will hold the Conference every year, not every other year. This should enable us to cover a wider range of monetary and economic issues in a more timely manner. The new annual Conference format should offer more opportunities for candid exchanges of views between central bankers and scholars.
Monetary policy has kept inflation under control and reacted swiftly under circumstances which have sometimes been difficult. On the whole, fiscal policies have also reacted in a way which is compatible with both the economic environment and their medium-term objectives. All in all, there is clear evidence that policy-makers have acted appropriately in all three areas. Conclusion Let me conclude.