increased our confidence in the gradual convergence of inflation towards our aim. at the same time, a substantial amount of monetary accommodation continues to be necessary to secure the gradual convergence of inflation towards our inflation aim. the continued monetary support is provided by the additional net asset purchases, by the sizeable stock of acquired assets and the forthcoming reinvestments, and by our forward guidance on interest rates. to this end, an effective transmission of our monetary support through the money market remains essential. i thus look forward to hearing back about the discussions which you will be having about money markets. i think it is very useful and important that this workshop brings together academics, central bankers and market practitioners, which provides for a variety of perspectives. i wish you a very productive workshop. 4 / 4 bis central bankers'speeches

70 % co - funding support from the financial sector development fund gaining international mindshare to create greater international mindshare, ibf launched the financeconnectsingapore website to profile singapore ’ s financial sector, to provide more information on the career opportunities here and to promote singapore as a choice location to live, work and play. to date, the website has registered over 100, 000 visits. ibf recently partnered with contact singapore to provide a job portal for financial institutions to post job openings targeted at financial professionals from overseas. bringing value to ibf members i have outlined some of the initiatives undertaken by ibf over the past year. going forward, ibf will continue to take a proactive role in promoting best practices and thought leadership in talent management strategies. on thought leadership, i am delighted to warmly welcome our keynote presentation speaker professor ronald collard for this year ’ s annual conference. professor collard will speak on the topic of “ talent strategies for sustained profitable growth ”. i believe you will learn much from professor collard ’ s extensive experience and expertise in the area of talent strategies. i also wish to thank the panelists, david, richard, robert and mark for their participation, and look forward to a lively discussion later. as ibf management is quite confident that professor collard and our panel of speakers will whet your appetite for more learning, i am pleased to announce that we will be holding the beacon series for hr professionals in october and the distinguished speaker series for business leaders in november. the year ahead will be exciting. many of you have contributed to ibf in various ways. i wish to thank my fellow council members, the fics steering committee, the fics working group members, and ficps for your contribution to promoting the fics framework. let me extend my appreciation to our industry associations and partners, including the embassy of switzerland in singapore, swiss house singapore and swiss business hub asean for partnering ibf in its organization of the workshop on “ talent development in wealth management ” in november last year ; and pricewaterhousecoopers without whom we would not have had the pleasure of listening to professor collard today. i also wish to thank the singapore workforce development agency and the monetary authority of singapore, for their close collaboration with ibf. i look forward to more of such collaboration between ibf and our industry associations and partners in the year ahead. i wish you a fruitful session ahead.