We should continue our efforts to expand financial  BIS central bankers’ speeches  3  cooperation at the central bank level with the countries that have signed FTAs with Korea, and I firmly believe that, when looking at the larger picture, these efforts will also offer a financial safety net not only for Korea but for our swap arrangement counterparts, to help them to cope with financial crises.
That assessment is based on our view that the neutral nominal federal funds rate— that is, the interest rate that is neither expansionary nor contractionary and keeps the economy operating on an even keel—is currently low by historical standards.