I wish to thank them all for their contributions and I am confident that these efforts will ensure that the coming year is even more successful. 8  BIS Review 111/2008
The Bank's conduct of monetary policy has played an important role in preventing further deterioration of the economy by securing stability in financial markets when Japan's economy was under significant stress due to adjustment in IT-related industries worldwide, the terrorist attacks in the United States, and increasing concern about the stability of the financial system.