The housing market has also been  BIS Review 26/2010  1  recovering, although uncertainty remains, and commercial real estate prices continue to fall. The unemployment rate remains high, at 10 percent, without any prospect of an early recovery in the job market.
BIS central bankers’ speeches  1  Hence, the ECB has delivered in line with its mandate. However, looking ahead we have to ensure that this will remain so. Risks that monetary policy may be overburdened in the future need to be counteracted. The primacy of sound monetary policy and price stability must be safeguarded. It is our shared asset in the euro area.