摘要：The growth rate of the global economy remained
favourable in the fi rst half of 2006. This created preconditions
for continuing a stricter interest rate policy
in several major economic regions. The Euribor
rates have risen by 1.3¨C1.6 percentage points within
the year since the beginning of the upward cycle
of interest rates in autumn 2005. Except for the
sudden temporary drop of share prices in May and
June 2006, the development of the global interest
environment has not entailed any other signifi cant
changes in the risk behaviour of investors, the volatility
of markets or risk premiums.
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