The current account however remains financed by capital inflows, and the international liquidity position of the Bank increased to a level of $ billion at the end of September. World inflation is expected to be negatively affected by higher oil prices.
How much of the accumulated analytical research could possibly provide ground solid enough to allow reasonable assessment of the likely consequences of alternative policy choices? Analytical work is advancing impressively on all fronts, but at the same time the world has gone into a mode of continuous change.