Subdued inflation, of course, has resulted, in part, from the sharp fall in oil prices from mid1997 through early this year. Moreover, there has been a significant weakening in non-oil import prices since 1995, owing largely to a combination of declining world commodity prices and a strengthening dollar in our foreign exchange markets through last summer.
I deeply regret that he no longer is with us, and wish to pay my tribute to the great work he has accomplished in linking Sweden and Japan in the world of finance. Robert, I will not forget how much we owe to you. May his soul, now joined by his beloved wife Siv, rest in peace.