The crux of the largely laissez-faire argument is that, because unencumbered competitive markets reflect the value preferences of consumers, the resulting price signals direct a nation’s savings into those capital assets that maximize the production of goods and services most valued by consumers.
This change has already commenced when we ceased issuing the one and two cents coins to commercial banks from October 13 of this year. Let me put this process in its bigger prospective. We decided back in 2002 to review our entire currency – both notes and coins.