a further easing of monetary policy, although in a different way than in the past. at its most recent meeting, the board continued to consider the case for additional monetary easing to support jobs and the overall economy. as part of this discussion we also considered the nature of our forward guidance regarding the cash rate. before turning to the broader policy question, i would like to discuss how the board's thinking on forward guidance has evolved. the board agreed that it made sense for me to talk about this today, where more context can be provided, rather than make a change in the statement directly after the meeting. over recent months, our communication has stated that the board will ‘ not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2 – 3 per cent target band ’. it might seem strange to some that we are even talking about the day that interest rates increase, given that it is a long way off. but expectations about future interest rates affect people's decisions and asset pricing, so we seek to be as transparent as we reasonably can. in terms of inflation, our forward guidance has been forward looking – we have focused on the outlook for inflation, not just current inflation. this was a sensible approach when the inflation dynamics were relatively stable and well understood. in today's world, things are much less certain. so we will now be putting a greater weight on actual, not forecast, inflation in our decision - making. in terms of unemployment, we want to see more than just ‘ progress towards full employment ’. the board views addressing the high rate of unemployment as an important national priority. consistent with our mandate, we want to do what we can do, with the tools we have, to ensure that people have jobs. we want to see a return to labour market conditions that are consistent with inflation being sustainably within the 2 to 3 per cent target range. the board will not be increasing the cash rate until actual inflation is sustainably within the target range. it is not enough for inflation to be forecast to be in the target range. while inflation can move up and down for a range of temporary reasons, achieving inflation consistent with the target is likely to require a return to a tight labour market. on our current outlook for the economy – which we will update in early november – this is still some years away. so we do not expect to be increasing the cash rate for at least three years. turning to

ahmet ismaili : opening speech – " sustainable finance forum " opening speech by mr ahmet ismaili, governor of the central bank of the republic of kosovo, at the sustainable finance forum, pristina, 5 october 2023. * * * dear, ms. zhang and mr. marquier, ifc representatives dear, mr. fuchs from swiss embassy dear, mr. balija from kba dear, eu ambassador szunyog board members of the central bank of the republic of kosovo government representatives representatives of the central banks, and saving associations donor, partners, and financial institutions dear, colleagues ladies and gentlemen it is my pleasure to open this forum and welcome you all to the first sustainable finance forum, co - organized by the central bank of the republic of kosovo, the kosovo banking association, international finance corporation and sustainable banking and finance network, in partnership with seco. sustainable finance is the new concept which has emerged from the environmental and climate changes, with associated risks and opportunities to the economies. following the adoption of the paris agreement on climate change and the un 2030 agenda for sustainable development in 2015, governments all over the world are making strides to transition to low - carbon and more circular economies on a global scale. republic of kosovo's environmental commitments are aligned with the eu strategy, and is was one of the six western balkan countries that signed the sofia declaration ( november 2020 ), where the countries acknowledged the european green deal, as a cornerstone for the green agenda for the western balkans ( gawb ). the energy strategy of the republic of kosovo 2022 - 2031, adopted by the parliament of the republic of kosovo, is led by a vision of : a sustainable energy sector integrated into the pan - european market, ensuring energy security and affordability for citizens. also, the strategy foresees by 2025 to complete all preparations for implementing a carbon pricing system and committed to achieve net - zero emissions by 2050. 1 / 3 bis - central bankers'speeches the republic of kosovo has adopted the program with imf " resilience and sustainability facility " ( rsf ) of sdr61. 95 million, to support climate change mitigation and adaptation actions, exploit synergies with other official support and help catalyze private investment in green energy. moving to a low - carbon or green economy would need extraordinary levels of fresh capital investment, notably in the form of green financing, to support activities that cut ghg emissions and