It represents a step in our country’s transition to a twenty first century banking system using the latest technology. The implementation of electronic inter-bank funds transfer and Real Time Gross Settlement is a major step forward for our country and will bring many advantages to all sectors of the economy.
We can look back on 17 quarters of economic growth and an unemployment rate that has fallen from around 12% to around 9%. This has given a boost to demand; people have started spending again. And the recovery is not confined to a few countries; it has taken hold across the euro area. Given all of that, inflation should pick up.