With that in mind, I'd like to provide a brief update on the work underway to strengthen interest rate benchmarks, both internationally and in Australia. The end of LIBOR The various LIBORs have long been the key interest rate benchmarks for the major currencies.
The underlying causes of the imbalances Speculating on the adjustment path would be more fruitful if we understood how we got to where we are today. Unfortunately, the situation is complicated and, even after the fact, not fully understood, which is why we hold conferences like this one.