Having said that, I should stress that the actual course of policy will be determined by incoming data and what that reveals about the economy. We have no intention of embarking on a preset course of increases in the federal funds rate after the initial increase. Rather, we will adjust monetary policy in response to developments in economic activity and inflation as they occur.
We believe that commercial banks with their outreach and resources have a unique opportunity, not only to contribute to the development of our rural areas and assist the marginalised in our communities, but also capitalise on this investment and make reasonable returns.