A wonderful movement demonstrating the rise of civic sovereignty consciousness. Citizens as taxpayers hold legitimate rights to know what their representatives debate in the council. (N3 lesson 150)
Lord Vance, thank you for making the long journey. As an institution bearing the mantle of central banking entrusted with international financial stability, we have not the slightest intention of placing unexpected burdens upon the market mechanisms of other nations. I ask for your understanding that this is an indispensable measure to achieve our domestic price stability mandate. (N1 lesson 11)
Yes, Counsel Hiramatsu: “to conduct currency and monetary control, thereby pursuing price stability and contributing to the sound development of the national economy.” Whatever political pressure or calls for a short-term boost we face, a central bank's Policy Board must never lose sight of that starting point. (N1 lesson 22)
Tightening from treasury funds being drawn in. We'll watch how the big trust banks and city banks, the lenders, move, and make sure the regional banks, the borrowers, don't run dry. A central bank's market operator has a duty to catch the smallest imbalance in an instant and move first to keep the market stable. (N1 lesson 31)
Quite right. As a responsible member of the international community that values financial cooperation with its allies, we cannot sell bonds unilaterally without due political consideration. Very careful operations are called for, such as using the repo facility at the Federal Reserve Bank of New York to draw liquidity without selling the bonds we hold. (N1 lesson 68)
A major bank that supports a nation's financial system must not scrabble for short-term margins; it carries a high public mission and a social responsibility to support the real economy by creating credit for growth sectors. It was a request for cooperation, to make them aware of that. (N1 lesson 55)
