BIS Review 104/2006  3  I think that it will. But my reasons for thinking so have little to do with the delivery of services to depository institutions. Rather, they reflect the attributes of the Reserve Banks that flow from their status as independent, separate entities in close contact with their region's financial institutions, businesses, and communities.
We would be concerned if this trend is not confirmed in the months ahead and if prices were to reaccelerate once again.