As the pioneering central bank in this uncharted territory, the Bank is in a unique position to explain to the audience both at home and abroad the experience under the zero interest rate policy and quantitative easing.
As all of you here are experts in market operations and other financial market transactions, I feel it may be stimulating to focus my talk on the issues of mutual interest related to market operations and financial markets, rather than talking about developments in the economy and monetary policy in general. It is often said that the devil is in the details.