Uncertainty also surrounds the speed and intensity with which monetary policy impulses are implemented. Taking a slightly longer-term perspective can therefore help prevent monetary policy from succumbing to the illusion that it can micro-manage everything.
Never has it been cheaper for you – for firms – to borrow from banks than it is today. In France, for example, the composite cost of borrowing for firms during the first half of this year was just 1.5%. Of course, that is not to say that all of you will always obtain credit from your bank.