explain our assessment in greater detail, starting with the economic analysis. real gdp in the euro area rose by 0. 2 %, quarter on quarter, in the third quarter of this year. this was in line with earlier indications of a weakening in the euro area ’ s growth momentum, leading to a downward revision of the outlook for euro area real gdp growth in the most recent forecasts. the latest data and survey evidence up to november confirm this picture of a weaker growth profile in the period ahead. at the same time, the outlook for a modest economic recovery remains in place. on the one hand, domestic demand should be supported by our monetary policy measures, the ongoing improvements in financial conditions, the progress made in fiscal consolidation and structural reforms, and significantly lower energy prices supporting real disposable income. furthermore, demand for exports should benefit from the global recovery. on the other hand, the recovery is likely to continue to be dampened by high unemployment, sizeable unutilised capacity, and the necessary balance sheet adjustments in the public and private sectors. bis central bankers ’ speeches these elements are reflected in the december 2014 eurosystem staff macroeconomic projections for the euro area, which foresee annual real gdp increasing by 0. 8 % in 2014, 1. 0 % in 2015 and 1. 5 % in 2016. compared with the september 2014 ecb staff macroeconomic projections, the projections for real gdp growth have been revised substantially downwards. downward revisions were made to the projections for both domestic demand and net exports. the risks surrounding the economic outlook for the euro area are on the downside. in particular, the weak euro area growth momentum, alongside high geopolitical risks, has the potential to dampen confidence and especially private investment. in addition, insufficient progress in structural reforms in euro area countries constitutes a key downward risk to the economic outlook. according to eurostat ’ s flash estimate, euro area annual hicp inflation was 0. 3 % in november 2014, after 0. 4 % in october. compared with the previous month, this mainly reflects a stronger fall in energy price inflation and a somewhat lower annual increase in services prices. taking into account the current environment of very low rates of inflation, it will be important to assess the broader impact of recent oil price developments on mediumterm inflation trends and to avoid spillovers to inflation expectations and wage formation. against the background of recent oil price developments, it is crucial to recall that forecasts and projections are based on technical

and - evolving - jobs - in - financial - services 8 / 18 04 / 12 / 2020 " gearing up for new and evolving jobs in financial services " - remarks by mr ravi menon, managing director, monetary authorit … the programme was highly popular. tfip is in its second run this year with 21 financial institutions [UNK] over 190 trainee places, more than double that of last year. that said, we need to scale up much more because the demand for these roles continues to outstrip our pace of building skills. third, basic tech jobs, such as tech support executive, it ops and support. these roles are typically less complex and more rules - based. however, they pay less than intermediate and advanced tech roles and have not appealed to singaporeans as much. the recent increase in minimum qualifying salary to $ 5, 000 for entry - level employment pass holders in the financial sector means that it would be harder for financial institutions to hire cheaper foreigners for these roles. we hope more locals will take up these job roles, even if they are less paid, which also provide a pathway to the intermediate tech jobs, which are in demand. beyond the technology function, there is healthy demand for jobs across [UNK] business lines, including consumer banking, corporate banking, private banking and wealth management. these jobs are in three broad categories : business roles, for example, relationship managers, product advisory, and portfolio management ; control roles, for example, customer due diligence, compliance, and risk management ; and https : / / www. mas. gov. sg / news / speeches / 2020 / gearing - up - for - new - and - evolving - jobs - in - financial - services 9 / 18 04 / 12 / 2020 " gearing up for new and evolving jobs in financial services " - remarks by mr ravi menon, managing director, monetary authorit … transformation roles, for example, digital transformation, innovation and process excellence. in our survey, we also asked financial institutions about the profile of candidates that they hope to hire. we found that for over 60 % of the jobs, financial institutions are looking for experienced hires or specialists to fill these roles. i can understand that for many roles, there is indeed a business need to hire people with direct experience and deep expertise. but if employers take this approach for all job roles, where does that leave mid - career jobseekers who may not yet have all the skills required for these roles but may nonetheless have some past experience that is