We also reduced the delegated limits given to foreign exchange dealers on selected overseas transactions. Recently, we announced changes to borrowing guidelines for non-residents individuals and companies. There have been some concerns on higher interest rates particularly from individual borrowers and investors. We understand these concerns. But again we ask that you appreciate the seriousness of our financial situation.
This means that reform in the domestic financial system will comprise of three key policy actions. The first is removal of price restrictions; that is, the removal of ceilings on deposit interest rates and restrictions on lending interest rates.