Every time central banks faced tough challenges and decided to introduce unprecedented policy measures — such as large-scale asset purchases and negative interest rates — the decision was made based on the operational feasibility, for example, of monetary operations and whether a close cooperative relationship between a central bank and market participants is well established.
As I conclude, may I welcome the presence of delegates from Rwanda and Burundi to this workshop. I wish the participants a happy stay in Nairobi and fruitful deliberations. With these few remarks, it is now my humble duty to declare the 7th East African Banking School officially open. Thank you for your kind attention. 4  BIS Review 92/2007