.In the second quarter review of Monetary policy Branch authorisation has been relaxed to the extent that banks do not require prior permission to open branches even in tier I centres, subject to reporting. VI.
The results of research at the Board and that of many others seeking to document a link between liquidity and swings in asset prices has focused on growth rates of broad monetary aggregates and measures of equity and house prices deflated by the price index for personal consumption expenditures.1 Using these measures, the results differ significantly according to the type of asset being studied.