of this activity, we in the reserve bank and on our national capital markets taskforce, will continue to commit ourselves to promoting fiji ’ s capital markets with the relevant stakeholders and more such activities will be organised for the schools and students in near future. bis central bankers ’ speeches acknowledgements organising activities of such magnitude requires a concerted effort by many stakeholders. so please allow me to thank our sponsors : the south pacific stock exchange ; v b holdings limited ; fijian holdings unit trust ; and the unit trust of fiji, who made this initiative a success. special thanks also to the ministry of education, especially the acting permanent secretary, for supporting our “ be money wi $ e ” program and also for assisting us in relaying the awareness to all schools in a timely manner. we will continue to work closely with ministry of education and hope to receive the same support for other activities which will be organised as part of the “ be money wi $ e ” program. special appreciation must also go out to the members of the capital markets awareness working group for helping assess the essays and choosing the winners. your commitment to the bmw program is greatly appreciated with all your support and hard work we received a total of 224 entries from secondary schools around fiji. i might mention that it was certainly not an easy feat to decide on the winners, which was proof of the high calibre of the entries concluding remarks in concluding, i would again like to congratulate the three winners, sakshi, divneeta and upasna. with your research towards this essay we hope that you have learnt and now have a better feeling of what the capital markets are all about. we also trust that with this knowledge you will be great ambassadors on the subject in your schools and communities. we hope that your prizes will lay a foundation for your future investments and you would, over time, grow to be more savvy investors in fiji ’ s capital markets. with this, ladies and gentlemen i thank you for your presence here today, thanks also to our winners and all their fellow participating students and i wish you all a great afternoon. vinaka bis central bankers ’ speeches

constantinos herodotou : speech - 14th limassol economic forum speech by mr constantinos herodotou, governor of the central bank of cyprus, at the 14th limassol economic forum, limassol, 6 october 2023. * * * honourable president of the house of representatives, fellow speakers, esteemed guests, ladies and gentlemen. i would like to thank the organisers for inviting me to the fourteenth limassol economic forum, a prestigious and always successful event. i was asked to discuss today the economic outlook of one of the world's most significant economic regions, the euro area. amidst the continuous waves of shocks and high uncertainty, the euro area remains a cornerstone of the global economy, exemplifying both the challenges and opportunities of integrated economies. over the years, the euro area has weathered numerous storms. from the impact of the great financial and sovereign debt crises, to the unprecedented shocks of the global pandemic, followed by the on - going consequences of the war in ukraine, the euro area has encountered multifaceted challenges. nevertheless, based on the combined strength and collective decision making of its member states, the euro area has shown resilience, ensuring that financial stability is preserved and economic recovery is steady and sustainable. having said that, the euro area is exhibiting a slow down in economic growth in 2023. the euro area economy grew by 0. 1 % on a quarter to quarter basis during the first half of 2023, and recent data suggests a similar performance for the third quarter. decreased residential and business investments, as a result of tighter financing conditions, coupled with a reduced demand for exports from the euro area, are hindering economic growth. according to the purchasing managers'index - the pmi, which is the index that summarises whether market conditions are expanding, staying the same or contracting, as viewed by purchasing managers surveyed monthly, the prevailing direction of economic trends in the manufacturing sector is contracting. according also to pmi data, the services sector had been growing until july 2023, albeit at a decelerated rate, but has since then moved also into contractionary territory. based on the european central bank ( ecb ) september 2023 projections, which are the most recent projections available, the economic activity is expected to regain momentum at the beginning of 2024. this will be fuelled by projected increases in real income due to decreasing inflation, growing wages, a robust european labour market and recovering foreign demand. according to