Those forces might cause inflation to return more slowly to our objective. But there is no reason why they should lead to a permanently lower inflation rate. What matters is that central banks act within their mandates to fulfill their mandates. In the euro area, that might create different challenges than it does in other jurisdictions. But those challenges can be mitigated.
We at the Reserve Bank of Fiji look forward to working closely with Bank of South Pacific Limited to ensure that Fiji’s financial system is dynamic and sound. I look forward to your contribution to the economy and the financial system. Once again, I congratulate you on the official opening of Bank of South Pacific Limited and wish you every success in your operations.