In the remainder of 2006 and in 2007, inflation rates are likely to remain elevated, with  BIS Review 63/2006  1  the precise levels depending mainly on future energy price developments. Meanwhile, the moderate evolution of labour costs in the euro area is expected to continue, notably reflecting ongoing global competitive pressures, particularly in the manufacturing sector.
I must thank the commercial banks for their support and cooperation for the measures that we have put in place. Bank of South Pacific Limited has a long history of banking in Papua New Guinea going back as far as 1957.