I look forward, as always, to a conversation with my good friend and onetime colleague Tim Adams, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework.
This could happen if a greater share of transactions were conducted via electronic trading platforms. Electronic platforms typically offer a lower cost structure than traditional phone dealing. The share of electronic trading in government bond markets in Australia is around a third. But in European and US bond markets the share of electronic trading is considerably greater at over fifty per cent.