The most important of these was the establishment of the FSC, with responsibility for the supervision of non deposit takers. The FSC is in the process of recruiting staff and setting up systems, and Central Bank is lending its expertise wherever we can be helpful. This morning you will hear more about its activities from the FSC themselves.
Alongside the increase in inflation, inflation expectations, as measured by both the Reuters survey of financial analysts, and the Bureau for Economic Research, have adjusted higher towards the upper end of the inflation target range.