BIS Review 9/2010  13  Figure 13 Nominal exchange rate and NDF position 700  10  650  9  600  8  550  7  500  6  450  5  400  4  Jan.09  Mar.09  May 09  Jul.09  Sep.09  Nov.09  NDF position (billions of $  NER $ Source: Central Bank of Chile. Table 3 Inflation (annual change, percent) 2008  2009 (f)  2010 (f)  2011 (f) 2.7  Average CPI inflation December CPI inflation CPI inflation in around 2 years (*)  8.7 7.1  1.6 -1.4  1.0 2.5  Average CPIX inflation December CPIX inflation CPIX inflation in around 2 years (*)  8.4 8.6  2.8 -1.5  0.3 1.9  2.5  Average CPIX1 inflation December CPIX1 inflation CPIX1 inflation in around 2 years (*)  7.8 7.7  2.8 -0.6  0.8 2.1  2.6  3.0  3.0  3.0  (f) Forecast. (*) Inflation forecast to the fourth quarter of 2011. Source: Central Bank of Chile.
12 As key financial centres globally, each with their respective strengths, there are  tremendous opportunities for Shanghai and Singapore to complement each other, including in the BRI, capital market connectivity, RMB internationalisation, and FinTech innovation. This would pave the way for broader and deeper collaboration, progressing Shanghai-Singapore financial cooperation to greater heights. mandarin: 让上海与新加坡的金融合作蓬勃发展,再创新高峰! 4/5  Expressing this aspiration in  BIS central bankers' speeches  13 These are some ideas for everyone to consider. I am sure our strong panel of speakers will provide even greater insights during the discussions later. I wish you a fruitful day ahead at the forum. Thank you. 1 Source: Shanghai Municipal Commission of Commerce (SMCC) 2 Source: Shanghai Municipal Commission of Commerce (SMCC) 3 The Bond Indices, designed by CFETS and BOC, track the movements of the Chinese bond market and can be  used by investors to benchmark their Chinese bond portfolio performance. 5/5  BIS central bankers' speeches