BIS central bankers’ speeches  1  Inflation and growth Despite India’s known antipathy towards inflation, we have experienced an average of more than 9 percent inflation between 2006 and 2013. The longer we had high inflation, the more the public’s expectations of inflation became entrenched at high numbers.
It was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability. The G20 presidency rotates among the G20 member countries – Germany’s presidency follows that of China and will be followed by Argentina. While each presidency has its own key projects, continuity is key in the G20 process.