In a speech on “The new global economic geography”dated 25 August 2006, Stanley Fischer, Governor of the Bank of Israel, referred to a study by Angus Maddison, Evidence to the Select Committee on Economic Affairs, House of Lords, February 2005. BIS Review 108/2007  3  trade and financial openness the euro area has the potential to take advantage of the new opportunities.
In addition, the Bank has raised the pace at which it purchases JGBs so that their amount outstanding will increase at an annual pace of about 80 trillion yen, implying that it is purchasing a large proportion of the JGBs issued on a flow basis.