If this slowing is maintained, it will become a serious issue and as a society we will have to make some difficult adjustments. So it is important that we think about the possibilities here, not just from a short-term perspective but from a long-term perspective as well. I would like to mention a couple of other areas of the Reserve Bank’s activities.
8  Implications for policy going forward With negative real policy rates and the accompanying commodity price boom, a large part of our recovery was demand driven.