The monetary analysis assesses medium to long-term developments in inflation based on the close relationship between money and prices over long horizons. Monetary analysis takes into account developments in a wide range of monetary indicators including M3, its components and counterparts, notably credit, and measures of excess liquidity. The economic analysis identifies short to medium-term risks to price stability.
That was a key formula for the times, defining the role of the new Bank-to-be in providing advice to Government and to business on domestic monetary and economic matters. 8  Parliamentary Paper in Mauritius. BIS Review 99/2007  3  I am the sixth Governor of the Bank of Mauritius.