Introduction Governor Kuroda Deputy Governor Nakaso Ladies and gentlemen It is wonderful to be back in Tokyo, this extraordinary city. I am happy to see so many of familiar faces and so many important stakeholders here with us today. Tonight we are celebrating the 30th anniversary of the Bundesbank’s Representative Office in Tokyo.
Yes, but this problem also existed in Spain for a long time. And the euro area as a whole was threatened by this deflationary scenario. Let’s go back to the ECB’s mandate for a moment. The low interest rates and regulation are significantly affecting the performance and strategies of banks and insurance companies. Is the ECB allowed to do that?