We at the Federal Reserve have been able to glean much from the Bank of Japan’s experience with monetary policy at the zero bound. In particular, the Bank of Japan’s implementation of many innovative policy measures has enhanced our understanding of the monetary transmission mechanism in a low-inflation environment, a valuable ingredient in monetary policy decisionmaking today.
I therefore thank each and every one here present especially, the Board and Management staff and customers for your important contributions that brought Tropical Bank to where it is today.