Currently, the state of the banking sector in many countries is in opposition with respect to the banking systems of developed countries. The principal difference is that the one-way desire to stimulate economic growth in Asian countries is associated with high rates of inflation and interest...

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....