s 2 / 4 bis central bankers'speeches package of monetary policy measures is providing substantial support to the australian economy in the face of lockdowns and the expected resumption of the economic expansion. these monetary policy measures include : the term funding facility a yield target for the april 2024 australian government bond of 10 basis points the bond purchase program under which the rba is purchasing bonds issued by the australian government and by the state and territory governments a cash rate target of 10 basis points. i would like to provide the committee with an update on each of these elements of the package. first, the term funding facility. a total of $ 188 billion was drawn down by financial institutions under this facility before the deadline for final drawings of 30 june. the interest rate on most of these funds is 10 basis points and the funding does not have to be repaid for 3 years. this means that, even though the facility is now closed to new drawings, it will continue to support low funding costs in australia out to mid 2024. at its july meeting, the board considered the yield target and decided to retain the april 2024 australian government bond as the target bond, rather than extend it to the november 2024 bond. the target remains at 10 basis points, the same as for the cash rate. the target has played an important role in keeping funding costs low and reinforcing our forward guidance regarding the cash rate, and it will continue to play this role over the next few years. the decision not to extend the target to the next maturity reflects a shift in the probabilities regarding future movements in the cash rate. when the 3 - year yield target was introduced last year, it was difficult to conceive scenarios in which the cash rate would be increased over the subsequent 3 years, which at the time ran to early 2023. eighteen months on, there are now plausible scenarios in which the cash rate is increased over a 3 - year horizon, which now runs until late 2024. given this shift, the board decided that it was not appropriate to extend the yield target to the end of 2024. at our july meeting, we also decided that we would continue purchasing government bonds following the completion of the second $ 100 billion program in early september. in addition, we decided that the purchases would be at a rate of $ 4 billion a week until at least november, rather than the current $ 5 billion a week. we also indicated that we had a flexible approach and could adjust the

bostjan vasle : introducing the euro in times of high inflation - case of croatia opening speech by mr bostjan vasle, governor of bank of slovenia, at the lecture " introducing the euro in times of high inflation - case of croatia ", ljubljana, 20 april 2023. * * * the spoken word applies. dear ladies and gentlemen, dear guests, welcome to the second lecture of foreign central bank governors this year. after hosting the governor of the central bank of estonia in march, today we have with us the governor of the croatian national bank, boris vuji. just a few months after croatia became the 20th country to join the euro area, governor vuji will present croatia's path to and the first experiences with adoption of the euro. with croatia's entry into the euro area this year, the euro has become the official currency for 347 million people. euro area enlargement adds to the role of the euro and the european economy, which is particularly important at a time of increased geopolitical tensions. the euro remains the second most widely used currency for trade invoicing, crossborder lending and foreign exchange trading, and holds the second largest share of global foreign exchange reserves, after the us dollar. even at a time of high inflation, support for the single currency among the eu population remains high, at over 70 % according to this winter's eurobarometer. with support at 87 %, slovenians are among the biggest supporters of the euro. * * * while we can draw several parallels between the introduction of the euro in slovenia in 2007 and in croatia this year, there are also some interesting differences. ( i ) slovenia was the first of the so - called new eu member states to adopt the euro. the introduction of the euro was accompanied by broad support in politics and the professional community, which contributed to an exceptionally high 72 % acceptance of the euro among the population. 1 / 3 bis - central bankers'speeches the fact that slovenians, as savers and consumers, were well familiar with the euro also boded well. in addition, it is worth highlighting the importance of thorough tree - year preparations for the euro adoption, in terms of technical, managerial and communication aspects. in croatia, there were more divisions and doubts about euro adoption, which made the determination and public engagement of the central bank and the government even more significant. ( ii ) for slovenia, one of the major challenges in meeting the criteria for joining the euro