Our mandate at the Central Bank, particularly as the Monetary Policy Committee, of ensuring stability in the economic system necessitates that we look at all the key markets and track price evolution beyond inflation dynamics; the foreign exchange market is always on our radar, given that its policy management is under our purview; we are also able to track price evolution in the securities market.
Given that instability could emerge from the housing market, making it imperative that we have a price tracking measure that can stand the test of scrutiny and therefore can be relied upon to identify any early signs of volatility from that segment of the economy that easily proliferates to other sectors, as has been proved internationally.