*  *  *  The Executive Director for MEFMI, Dr. Ellias Ngalande, The Deputy Governor, Supervision Dr. Grant Kabango, The Director of Bank Supervision, Mr Eldin Mlelemba and your Supervisors here present, Esteemed Resource Persons, MEFMI Staff, The Course Participants, Ladies and Gentlemen.
These forecasts have been low and stable in both industrial and many important developing countries in recent years. The surveys thus provide one indication that markets do expect low inflation to persist. The volatility of inflation has also declined notably, suggesting that perceived inflation risk may have declined as well.