More importantly, it is the consumers who are the ultimate beneficiaries of competition. Competition gives incentives for self-improvement and produces excellence. Competitiveness is linked with the creation, diffusion and application of new knowledge resulting in technological progress. And I do believe that there is still room for further improvement when it comes to the euro area’s international competitiveness.
These pieces of market information are valuable in creating a timely and accurate view of particular institutions and the market as a whole. The gathering and analyzing of this information is the core of “market intelligence”. The second part of the central bank’s intelligence activities is monitoring and feedback. Qualitative or supervisory information can be obtained from regular supervisory dialogue with regulated entities.