Its present rate of inflation is less than 1 %, and the economy has been restored to a sound path of growth despite the current downturn.
Yet I would like to refer briefly to three general points which have aroused greater public interest as a result of the recent currency crises: one, the importance of the banking sector;  5  BIS Review 38/1999  two, the choice of exchange rate system; and three, the short-termism in financial transactions.