Moreover, I believe that our experience and the lessons that can be drawn from it are applicable to all open economies with flexible exchange rates. In the 1990s, the Bank of Canada and the Government of Canada reached a series of joint agreements on inflation-control targets.
The financial system is a complex system, and has unique characteristics that require indepth through regarding how reforms and changes are to be carried out. I am happy that in the end, after tremendous effort by all those involved, we have succeeded in formulating recommendations that will benefit consumers and maintain the stability of the system.