Most of the  4  BIS central bankers’ speeches  time, customers choose a channel because they do not have a choice. Towards this, banks need to transform their business with a channel strategy with the idea that a customer’s approach to channels is additive not substitutive. This would result in better communication, better mobility and better customer insight.
The growth momentum is supported by our standard and non-standard monetary policy measures, but is expected to remain dampened by the necessary process of balance sheet adjustment in the financial and non-financial sectors, the existence of high unemployment and an uneven global recovery. The risks surrounding the economic outlook for the euro area continue to be on the downside.