As we started hearing more about problems encountered by small businesses in accessing credit, we again tapped the broad footprint of the Reserve Bank system and the web of local contacts they have developed to help us better understand the issues surrounding loans to small business.
I attended one of the regional meetings in June and was pleased to see firsthand the quality of the conversation that took place. Today we have seen evidence that the conversations were equally rich across the country. The information gathered through this kind of outreach is invaluable as we consider our policy options, and I hope that you have found it similarly helpful.