Consumption should also strengthen further over time in line with developments in real disposable income as employment conditions continue to improve. This outlook for economic developments is also reflected in the new ECB staff macroeconomic projections which foresee average annual real GDP growth in a range between 2.1% and 2.9% in 2007 and between 1.9% and 2.9% in 2008.
We look forward to continue working closely with the leaders of our financial system in building financial market infrastructure and systems that are safe, secure and responsive to its stakeholders. Thank you for your continuing support.