In Hong Kong, for example, tighter down payment rules reduce household leverage and the sensitivity of defaults to changes in property prices, and have been shown to slow property appreciation. Prudential supervision for all financial institutions I don’t mean to suggest that all asset bubbles can be addressed by merely implementing some set of regulatory policies. Indeed, how easy our jobs would then be!
And if I am not mistaken, two days from now, on April 30th, His Majesty King Carl Gustaf will celebrate his birthday. I'm sure that in between there must be some room for a Dancing Queen. Congratulations in advance to all Swedes here today. Walpurgis Night is also celebrated in Sweden on April 30th. The night of the bonfire.