Around 35 years ago it was positively sloped, suggesting that a little more inflation would have the permanent effect of giving rise to a little more real income.
Asia and the Pacific (hereafter, referred to simply as Asia unless otherwise noted) also has a long and very active history of regional financial cooperation. The central bank leaders of seven South East Asian nations gathered in Bangkok, Thailand in 1966, and established the foundation of SEACEN, which plays an important role as a training and learning hub in the region.