Late last year, I noted that patience was an important and worthwhile virtue and that we should pursue a strategy of vigilance, remaining data-driven and maintaining optionality in our toolkit and acting when necessary.6 In my view, the disinflationary dynamics that the euro area has experienced over the last decade are very unlikely to return and we have now reached the point when we need to act.
•  As the results to be launched shortly will show, the financial system is now offering a wider range of financial services and products to more Kenyans, while covering a wider geographical spread.