Nevertheless, you find yourselves surrounded by an ever closer union of Member States that has also introduced a single currency. In this light, I would like to elaborate on the introduction of the Euro and it´s consequences for the European Union - taking into account, where possible - the position of this country.
The term structure of money market interest rates had been shifting lower and flattening as a result. So, a gap had formed between the market-implied date of a rate lift-off and the Governing Council’s indications, under its time-bound component of forward guidance, of the earliest date at which such a lift-off was likely to occur.