While the alternative explanations could in theory have different implications for the sustainability of the decline in macroeconomic volatility, in general few doubts were expressed about the steadiness of this new state of the world: the “Great Moderation” was here to stay.   Sustained economic growth.
In July last year, in consultation with other EMEAP member central banks, it was  12  agreed to expand the scope of investment in the Asian Bond Fund in order to catalyze a further deepening of local-currency denominated green bond markets in the region, and this has been implemented starting March of this year. IV.