Japan's Fukui on global exchanges

In a speech on 'Global imbalances and exchanges' given on 13 October Toshihiko Fukui of the Bank of Japan said central banks operate in the markets to achieve their policy goals. As a result, the effectiveness of monetary policy depends on the sound development of financial markets. In this context, central banks have more than a passing interest in enhancing market infrastructure.

"I should stress that in a globalizing world supported by information technology, the certainty of transactions

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