As we move into these new pastures designed to deepen the financial market and broaden the range of financial products and instruments, we feel that it is also the right time to encourage Rating Agencies to start operations in Mauritius. In any case this move will also be beneficial to the sector as we move on to implementation of Basle II.
It is essential, therefore, for the Bank to continue to conduct monetary policy under the current framework for the time being to maintain accommodative financial conditions, so that it can also continue to support the reversal of hysteresis. 10  B. Future Policy Conduct in the Longer Run The next issue is a longer-term perspective; how monetary policy should be conducted in the future.