15 16  5  Chart 6  Real GDP and Monetary Policy Responses after the Global Financial Crisis Policy Rates  Real GDP 106  s.a., 2007/Q1=100  9  % Japan  8  104  United States  7 102 100  6  Euro area  5  United Kingdom  4  98  3  96  2 Japan  94  United States 92  Euro area  1 0  United Kingdom -1  90 CY 07  08  09  10  11  CY 95  97  99  01  03  05  07  09  11  13  15  Note: For Japan, for the period when no target interest rate was adopted, figures for the policy rate are the interest rate applied on excess reserves.
We have seen competition giving a tough run to the monopoly players. It has happened in the aviation sector, the telecom sector and there is no reason why it would not happen in the banking sector. And believe me, this is not the end of new competition for you.