While great progress has already been made in terms of liberalising trade and the foreign exchange market and in the privatisation of business enterprises, prime consideration must be given to economic competitiveness.
Residential construction is running at very high levels, households are adding a little less of their incomes to savings and savers have been searching for higher returns. These are all indications of easy money at work. Cognisant of the risk that very low interest rates may foster a worrying debt build-up, regulatory initiatives are in place to maintain sound lending standards and capital adequacy.