It is essential that inflation converge to the 3 percent target next year, especially in view of the need for monetary fundamentals to help shield the economy against financial volatility. Favorable factors exist, especially base effects from the tax hikes and lower changes in gasoline prices announced by the government.
Restoring and strengthening autonomy, mutual help and self governance are the cornerstone of the cooperatives. Absence of prudent interest rate policies 16. Cooperatives have access to huge deposits from public but there is no system to ensure prudent deployment of these funds. They have not taken advantage of the freedom given to them to decide on the interest rates on deposits and advances.