liberal. in keeping with this motto, you consequently advocated the freedom of choice with regard to payment instruments. after all, each and every citizen should be allowed to choose whichever available means of payment he wishes to use. you consistently represented the bundesbank's neutral position, whilst at the same time taking a differentiated approach to the issue of cash. the eurosystem and the bundesbank are clearly committed to cash and the bundesbank supplies the entire country with high - quality banknotes and coins. after all, this is the form of money in which citizens experience the single currency most directly and which they also use the most frequently when making payments at the point - of - sale. under your aegis, mr thiele, the new branch in dortmund is set to become an innovative cash processing centre that is in a league of its own. after all, you literally visited each and every bundesbank branch, sought direct contact with the staff members, listened to their concerns and explained why certain decisions had to be made. in doing so, you were an early role model in the bank for the open and direct communication culture that is so important to me. 4 conclusion dear mr thiele, dear mr dombret, despite having had a fulfilling professional life before joining the bundesbank, you both became central bankers with heart and soul. you have made a lasting difference in your respective areas of responsibility and promoted the interests of the bundesbank. i would like to thank you most sincerely for your outstanding contribution to the bank ’ s achievements – in the name of the entire executive board, but also quite personally. i expect that you, mr thiele, who are seen as a true family man within the bank, are probably looking forward to spending more time with your large family. and all i ’ ll say to you, mr dombret, with your us passport, is : " see you around! " – i am quite sure we ’ ll run into one another at the odd art exhibition or elsewhere. mrs thiele and mrs dombret, while your husbands will have more freedom, the opposite is true for you. you will have new obligations planning your families ’ schedules. you see here, in line with our traditions, two bouquets of flowers for you. however, i have been told that you, mrs thiele, would throw a bouquet of flowers back in my face if they were presented to you as thanks for " keeping your

the considerable uncertainty surrounding the outlook — getting inflation all the way back to 2 % will take some time. we also know there could be bumps along the way. this is why our ongoing and careful assessment of the economy and inflation is so important. we remain resolute in our goal to re - establish low, stable and predictable inflation. canadians should be able to plan their spending and savings decisions without having to worry about the rising cost of everyday essentials. conclusion let me conclude by going back to where i started — harvest time in alberta as a kid i spent time on my grandparents ’ farm, and i remember my grandfather telling me he needed three eyes at harvest time : one for the weather, one for the calendar, and one for the crops. i also remember many long days and sleepless nights until the crops were off the field. it ’ s a bit like that at the bank of canada right now. we have a careful eye on many different things — we have a lot of work ahead of us, and we will not rest easy until we can get inflation back to target. we are determined to get this job done.