I am told that the emblem of the Expo is inspired by the Chinese character for “world”, and that there is a popular saying in China, which goes: “The world is wonderful, if you don’t see it, you don’t know” (shijie zhen qimiao, bu kan bu zhidao).
To preserve the effective transmission of last week’s rate hike by 75 basis points and safeguard the orderly functioning of money markets, the Governing Council also decided last week to temporarily remove the zero per cent interest rate ceiling for remunerating government deposits held with the Eurosystem.