I see potential financial disturbances from the yet unfolding subprime mortgage problem in the US, the now-growing consensus for a deeper-than-first-expected slowdown in the US, as well as the elevated and more volatile oil and commodity prices. These risks, although essentially out of our control, are real and could threaten our outlook. We therefore need to build on what we have so far achieved.
We will continue to sharpen our tools for implementing sound monetary policy. We will also continue to reinforce sound structural reforms in the banking system to ensure its overall safety and efficiency as well as its adaptability and inclusiveness, as evidenced by our substantial strides in propagating sustainable microfinance in increasingly innovative forms.