My limited objective behind sketching a broad canvas of our past and ongoing efforts was to bring home the point that development of financial markets is a complex web of various underlying factors and processes which need to synergistically come together. While it definitely cannot happen by a regulatory fiat, regulatory nudges are indeed necessary. It is an incremental process based on adaptive learning.
At the aggregate level, my view is that a further pick-up in wages growth is both affordable and desirable. Turning now to inflation, the June quarter outcome was broadly in line with expectations, after a run of lower-than-expected numbers in earlier quarters.