The Reserve Bank is not out of firepower. We have additional monetary policy options and we are prepared to use them if the circumstances require. In terms of interest rates, I think we have gone as far as it makes sense to do so in the current environment.
Austria’s accession to the EU had a considerable impact on the financial services industry and the capital market. In this respect, the EU’s common market served as an important catalyst for the increased refocusing and consolidation efforts the Austrian banking sector made in order to become more competitive.