However, the krona has strengthened more during the summer than we were expecting. It remains to be seen how much of the strengthening is perceived to be permanent. This will to a large extent determine the impact on inflation. The unease on the financial markets has entailed large fluctuations in the currency markets and we know that changes can happen suddenly. Next decision on 5 September What I have said today is, as I mentioned initially, an attempt to summarise what has happened in the economic sphere during the summer. At the Riksbank we are busy working on new analyses and forecasts on which to base the next repo-rate decision on 5 September. Of course, a lot can happen before that, and we will not be making an overall economic assessment until then. But without getting ahead of ourselves, one can note that so far developments abroad may have been slightly weaker than expected, while developments in Sweden have been unexpectedly strong, at least during the second quarter. The krona has strengthened more during the summer than we were expecting in July. There is still unease over the situation in Europe. What we now have to consider is how these factors should be balanced against one another. Our conclusions on this matter will be presented at the beginning of September. 6  BIS central bankers’ speeches
Lawyers, for instance, can be disbarred, and complaints against them can become matters of public record. That is added incentive to maintain the skills, character, and other qualifications required to become (and remain) a member of the bar. And, critically, professions do not stop improving. Lawyers continue—I hope—to seek a more just society. Doctors, a healthier one. I do not mean to call for the equivalent of the legal bar for bankers—although it might not be a bad idea. But there are elements of professions that could be useful. For example, forums like this one facilitate information sharing and promote a sense of community. A code of professional conduct is another example. Again, I refer you to the work of the Banking Standards Board, 5/7  BIS central bankers' speeches  which has developed a “Statement of Principles for Strengthening Professionalism.” Like Bill Dudley, I have argued that banking would benefit from a misconduct database. 15 Records of employee misconduct would be available to future employers to combat the so-called “rolling bad apple” phenomenon. Hopefully this would encourage more careful choices by bankers in the same way that the risk of disbarment prompts lawyers to think about the long-term consequences of their decisions. None of these ideas is a magic bullet. But they may be helpful as you consider how the first line of defense and the financial services industry develop as a profession. Conclusion: professional courage Let me end with one final thought on professionalism.