8 But I would like to emphasize what seems to me to be three contributors to the decline in the term premium in the United States and perhaps in other countries as well. 9 First, the decline in inflation volatility has almost certainly been important in driving the term premium on nominal bonds lower.
Let me first congratulate all of you on the occasion of the Foundation Day and the technological achievement on the eve of inauguration of the Core Banking Solution Project of the bank. This single step will enable the A.P.