Patrick Honohan: The return of the surprise in central banking Address by Mr Patrick Honohan, Governor of the Central Bank of Ireland, at the Official Monetary and Financial Institutions Forum (OMFIF) Golden Series on World Money, London, 8 May 2012. *  *  *  In the old days, central banking used to be about surprises.
Besides new capacity additions, this growth was stimulated by rising real consumption expenditure and construction demand. Capacity enhancement and utilization is at an all time peak. Industrial growth is accompanied by a degree of industrial diversification and emergence of new entrepreneurial class, though more effort is warranted to move Pakistani industry away from its traditional dependence on resource-based and low technology based processes.