Given higher levels of government debt, central banks could come under pressure to hold interest rates low for longer than required by the objective of price stability in order to keep states’ 8/13  funding costs down.  [9]  How great the danger of such ﬁscal dominance is depends, in part, on expectations.
I would like to thank the Credit Union Foundation of Australia, the World Council of Credit Unions and the Fiji Credit Union League for hosting this Congress. I believe that this is the second gathering to be held in Fiji. Thank you for selecting Fiji as your venue.