When we look at this long-run series (which should be more closely related to expectations about policy objectives than the short-run measure), we see that the public’s expectations stood at a high level of 7-3/4 percent at the start of the 1980s, when this information first began to be collected.
No doubt more competition leads to better price discovery. We have 19 banks operating in Mauritius. Although, there is a high degree of market concentration, we do not believe that there is any active collusion among them.