The float – the share of government bonds held by the private sector – has decreased with our purchases. The marginal intervention you have when the float is smaller has the potential to have some bigger effects on prices. But it is a relatively short term consideration.
BIS Review 87/2006  1  Although this view has some merit, the reality about globalisation is that, among other positive changes, it eased capital transfers which provided for relatively easier access to funds by credit and supplementation institutions for on-lending to small and medium enterprises in the Asia-Pacific region. As international trade and investments increase, this trend is likely to continue and grow.