The lower repo rate path provides a better development, while the higher provides a worse. The next paragraph mentions different measures of resource utilisation and emphasises the uncertainty of these measures. In this case, however, all measures of resource utilisation give the same answer. The lower repo rate path is better, and the higher is worse. Other forecasters than the Riksbank, such as the National Institute of Economic Research, the Ministry of Finance and the OECD, have even lower estimates of resource utilisation than the  BIS Review 22/2010  7  Riksbank, as can be seen in Figure 2. The paragraph on resource utilisation thus provides no argument against choosing the lower repo rate path. The following paragraph states that it is difficult to know how economic agents will act and how financial markets will function when interest rates are very low. However, I do not know of any information pointing to economic agents acting differently or paradoxically when interest rates are low, or why this should have such drastic consequences that it is allowed to dominate over other considerations. Interest rates have been very low in many countries for more than a year; moreover there have been much lower interest rates in several other countries than in Sweden. In Switzerland they have had policy rates of a couple of basis points.
A combination of insights, leadership, technical capacity and adequate preparation needs to be channeled into a general enthusiasm for both our regions to rise to the potential challenges and in the process become greater partners for success. In summary, the future direction of the ASEAN-EU relations will be dependent on several multidimensional facets that would include: the changing strategic landscape amidst globalisation, ASEAN's and the EU's desire to play a greater role in the global economy and international affairs, the EU's ability in managing its enlargement process, and ASEAN's commitment to forge greater regional integration. I am certain that the passage of time and closer analyses of the issues discussed at this Conference will yield more lessons that we could take to heart in making progress on expanding ASEAN-EU economic and financial links. It is my hope that in the future we can continue to have such constructive exchanges of views and experiences that will further nourish the broader learning environment. In closing, allow me to thank the speakers for enriching the Conference with their presence and their cutting-edge perspectives. I also wish to again thank the European Commission for giving Bank  1/2  Negara the opportunity to co-host this Conference. To all our participants from abroad, we hope you stay in Kuala Lumpur has been pleasant, and we wish you a safe journey home. 2/2