The construction of Train IV has meant a large increase in such investments over the past few years. More recently we have begun to have sizable concerted outflows on capital account. BIS Review 21/2005  7  Figure 11 provides data on some identified capital outflows.
These are some of the lessons we’re taking away from the use of this extraordinary program during the pandemic. And I want to be clear that the bar is very high for us to use large-scale GoC bond purchases to support market functioning again. There are a few reasons for this.