From a longer term perspective, when compared with the average levels recorded in the 1980s and the first half of the nineties the observed volatility of inflation and long term interest rates declined by around three quarters.
It is my privilege to chair the panel on “Financial Regulatory Reforms: Not far enough or overkill?” Let me welcome the four very eminent panelists, Mr Jae-ha Park, Deputy Dean ADBI; Mr Stephen Pickford, Associate Fellow, Chatham House; Mr Paul Bernd Spahn, Professor Emeritus of Goethe University, Frankfurt am Main, Germany and Ms Susan Thomas, Assistant Professor, Indira Gandhi Institute of Development Research.