It is crucial that the hurdles of physical distance are made easier to overcome. The chances of doing so have never been better. Digitalisation is handing us new tools. Think about how businesses and customers today connect and communicate in digital marketplaces; think about collaboration in virtual teams; think of purely digital products such as streaming services, cloud applications, and so on.
Total CPI inflation is projected to rise above the 2 per cent inflation target in the second half of this year, peaking below 3 per cent near the end of 2007 before returning to the target by mid-2008.