Earlier in 2015, there were signs of a relatively benign path for the exchange rate, as it held up well against the yen and euro. However, as the year progressed and the rand weakened across the board, inflation risks heightened and prompted the decision to resume the hiking cycle in July 2015.
Before we start presenting the students with their well-earned certificates, I hope you will allow me if just say a few words about the significance of this programme, and its relevance to the development of Bahrain’s financial markets. Bahrain, as I am sure you are all aware, has a long and distinguished track record as the leading financial centre in the GCC.