14. An acid test for a central bank is the management of inflation expectations.
Despite the tussle at the level of the MPC, I am pleased to report that both inflation and inflation expectations have stayed at low levels, giving the country a stable macro-economic environment which has led, in turn, to a higher level of support for the Bank and its policies among the wider population, notwithstanding much negative coverage in some parts of the mainstream press and in business publications.