Fortunately, the tensions in the international financial markets began to ease in the latter half of October last year, and in line with this, the external pressures on Japanese financial markets also declined rapidly.
As the domestic and the overseas financial markets move more and more towards convergence, the Bank of Japan intends to enhance its monitoring activities further, particularly on the Asian economies and financial markets. Contributions to international rulemaking My second point involves contributions to policy formulation at the international level.