may 2, 2017 bank of japan toward inclusive growth in asia keynote speech at the global think tank summit 2017 in yokohama haruhiko kuroda governor of the bank of japan introduction it is a great pleasure to have the opportunity to make one of the keynote speeches here at the global think tank summit 2017 marking the 50th anniversary of the asian development bank ( adb ). over the next couple of days, a number of key topics related to growth and sustainable development will be discussed. all the discussions today can be orientated more or less to the same goal : " inclusive growth. " " inclusive growth " has become a key objective for global policy makers including the g20. " inclusive growth " is typically defined as economic growth in which growth opportunities and benefits will be delivered to all people, regardless of their various socio - economic and gender attributes. today, i would like to shed light upon an economic attribute ; that is, income level. i do so because poverty remains in asia, in spite of the remarkable growth in per capita gdp over the past 50 years. this fact points to the necessity for asian economic growth to enhance its inclusiveness. financial inclusion can contribute greatly in this regard. i. economic growth and inclusiveness in asia during the 50 - year history of the adb, many of the adb's asian member countries transformed from low - income countries to middle - income countries. indeed, a few member countries have succeeded in joining the category of high - income countries. as the status of asian countries has improved in terms of per capita gdp, the standing of asia in the global economy has been enhanced. the percentage share of world gdp accounted for by the adb's asian members, excluding japan, australia, and new zealand, increased from 8 percent in 1966 to 25 percent in 2015. 1 furthermore, the increase in per capita gdp in asia has been accompanied by a 20 - year extension of asian people's life spans. comparing 2014 with 1964, the average life span increased from 49 to 74 years in the east asia and pacific region, while in south asia it increased from 45 to 68 years. 2 see the first chapter of adb ( 2016 ). adb through the decades : adb's fifth decade ( 2007 - 2016 ). mandaluyong city, philippines : adb. the source of data on life spans is the world bank's world development indicators. high - income countries are excluded for the east asia and pacific region. in the past

ida wolden bache : policy rate kept on hold introductory statement by ms ida wolden bache, governor of norges bank ( central bank of norway ), at the press conference following norway's announcement of the policy rate, oslo, 20 june 2024. * * * presentation accompanying the speech chart : policy rate kept unchanged at 4. 5 percent the monetary policy and financial stability committee decided to keep the policy rate unchanged at 4. 5 percent. norges bank is tasked with keeping inflation low and stable. the operational target is inflation of close to 2 percent over time. we are also mandated to help keep employment as high as possible and to promote economic stability. we have raised the policy rate significantly in recent years in order to tackle high inflation. the economy has cooled and inflation has slowed. but we still have a way to go. inflation is higher than our target, and the rapid rise in business costs will likely contribute to keeping inflation elevated ahead. it is, therefore, our judgement that there is a need to keep the policy rate at today's level for some time and somewhat longer than we had envisaged earlier. let me say a little more about the background for the rate decision and the committee's assessments. chart : international inflation has slowed sharply international price inflation has slowed markedly since the peak in 2022, and inflation in the euro area and sweden is now below 3 percent. goods inflation is low, while services inflation remains elevated in a number of countries. in sweden and the euro area, central bank interest rates have been lowered recently, while there are expectations that central banks in the us and the uk will start cutting rates later this year. compared with march, when we last presented projections, the market expects fewer rate cuts this year. norwegian policy rate expectations have also risen slightly. the interest rate differential between norway and other countries influences the krone exchange rate. we do not have a policy target for the krone exchange rate, but we are concerned with the krone exchange rate because it affects the outlook for the norwegian economy. the krone has depreciated over the past couple of years. a weaker krone means an increase in imported goods prices. the past krone depreciation is still contributing to keeping inflation elevated. since march, the krone has strengthened a little. chart : low growth in the norwegian economy 1 / 3 bis - central bankers'speeches the norwegian economy gradually cooled through 2023, and growth has remained low so far