I just hope that recent opposition to the Basel reforms, voiced by members of the US Congress, are simply 2/4  BIS central bankers' speeches  political rhetoric, and that the US remains committed to harmonised standards for global banks. Please rest assured that we remain dedicated to making Basel III a success. 5. Racing to the bottom?
Impact on the economy: low interest rates as a “necessary evil" Indeed, the low interest rates have cushioned the impact of the crisis and are propping up the gradual economic recovery sprouting in Germany and Europe. Admittedly, the European Central Bank does not gear its monetary policy towards these factors – its target is inflation.