16  Huang and Todorov (2022), The post-Libor world: a global view from the BIS derivatives statistics – BIS Review, December 2022 17 MPG (2023), Market conventions for ZARONIA-based derivatives  Page 8 of 12  6. Do we really need a forward-looking term rate?
In summer 2009, the rate of decline in the core CPI hit roughly 2.5 percent, marking the sharpest fall ever. The pace of decline in the core CPI has recently been moderating, underpinned by the rise in prices of petroleum products.