However, higher oil prices contributed to a rise in production prices from the very low levels reached in the first half of 1998, while core inflation increased from 7.1% in April 1998 to 8.2% in July 1999.
The scope of allowable banking activities The question of whether commercial banks should be allowed to engage in “non bank” activities, and if so, what specific activities should be permitted, poses acute dilemmas for regulatory policy.