However, macroeconomic prospects brightened in the euro area, too, and this likewise helped drive up Bund yields. What is more, market-based inﬂation expectations in the euro area have moved from their lowest point in March of last year towards our target of below, but close to, 2%.
2  BIS central bankers’ speeches  In 2015, the Reserve Bank together with AFI and the Pacific Financial Inclusion Programme, carried out a demand side survey of financial access and usage. It is important to note from the results of this survey that more than a third of our adult population (approximately 221,000 people) are excluded from any formal financial services.