In conclusion, in all jurisdictions innovation facilitators will play an important role in testing the impact of innovation in a closed environment and in encouraging the spread of responsible innovation in the financial system.
Several factors have propelled reasonably strong economic growth. A critical element has been supportive financial conditions. Despite the tightening of monetary policy that began in mid-2004, short-term interest rates were at fairly low levels until recently, and the effects of those low rates have continued to spur household and business spending.