Apart from adverse oil price developments, the concerns of the Committee also centred around the continuing high levels of consumer demand, which have been reflected in rising levels of credit extension to the private sector and also the larger-than-usual current account deficit  BIS Review 60/2006  3  on/of the balance of payments.
Furthermore, in an extraordinary measure for a central bank, the Bank has been proceeding with a new fund-provisioning measure to provide support for strengthening the foundations for economic growth. This is aimed at encouraging firms to explore new growth strategies by taking advantage of financial institutions’ expertise in identifying good business opportunities.