In the June SEP, the central tendency of FOMC participants’ projections for core PCE inflation was 1.3 percent to 1.4 percent this year, 1.6 percent to 1.9 percent next year, and 1.9 percent to 2.0 percent in 2017. There will be a new SEP for the forthcoming September meeting of the FOMC.
The NIC from its 51st year is thus poised to do better in a more incentivized environment. With these very few remarks ladies and gentlemen, it is now my honour and pleasure to wish you all a very pleasant evening and best wishes in your future endeavours as you celebrate the Golden Jubilee of NIC Bank. Thank you and God bless you all.