In this regard I wish to confirm that the Reserve Bank generally views it inappropriate to resort to the escape clause, and would rather provide an explanation to any deviation from the target range once the final outcome of the CPIX average for that year had been published.
Increase in global trade and improvements in physical supply chain efficiencies are creating demand for process improvements. Improvement in the efficiency and effectiveness of crossborder payments is likely but all stakeholders are being required to increase investments to change the processes and systems of corporates, banks and payment systems.