We are of the view that some of these customers have in fact been affected and, accordingly, are entitled to redress and compensation. We have challenged the two lenders on these issues and they will report back to us by end-October. As the Central Bank progresses this work, other lenders will be similarly challenged.
As the underlying economic recovery appears moribund, it is the main stream view that global interest rates will stay at a lower lever. However, it appears that inflation expectation is gathering stream. The authorities concerned therefore have to make necessary preparation, as the prevailing loose monetary policy may come to an end.