The exact combination and extent of the control, however, is dynamic and would have to be determined by the country context and international milieu. It is against this backdrop that I wish to share my thoughts with you on a few major themes that would guide our endeavours for development of markets in the next few years.
Looking ahead, the issue that most people are focusing on is the so-called “tapering” of US monetary policy. What is meant by this is that the Federal Reserve is expected, at some point, to moderate the rate at which it buys securities in the market, which is presently $ billion per month, and eventually to stop purchases.