It was also the time when the mainstream approach to monetary policy was beginning to converge to the flexible inflation targeting framework. A number of countries had then just adopted an explicit inflation targeting strategy. In the sphere of banking regulation, too, a new era was beginning.
Expanding our presence in Tokyo reflects the importance of the Japanese financial market and the growing influence of the region in the global economy. 2  BIS central bankers’ speeches  The new trading desk will be a great enhancement to the Bundesbank’s Representative Office, which already has a long and successful history. Today we want to celebrate this launch with you.