An increase in swap lines with other central banks, which allows the supply of dollar liquidity in Asian and European time zones, has been one large contributor to the expansion (and the RBA has participated in these lines).
Deshmukh, it is our pleasure to have Mr. Agustin Carstens with us. He was the Governor of the Central Bank of Mexico from 2010 to 2017 and a member of the BIS Board from 2011 to 2017. As a BIS board member, he chaired the Global Economy Meetings and the Meetings of Economic Consultative Council.