Opportunities abound – some specific directions I’d like to spend the rest of the time allotted on some specific suggestions for broadening your horizon. A quick review of the industry’s loan portfolio shows that about a third of the industry’s total lending continues to be towards the Real Estate and Construction Businesses.
So what we can do is to provide an explicit, well-articulated frame of reference for our actions. This is provided by the Governing Council’s quantitative definition of price stability, together with our stability-oriented monetary policy strategy – in short: we communicate what we are trying to achieve, and how we go about achieving it.