In Australia’s case, however, the effect was amplified in the early 1970s by the related phenomenon of rising commodity prices, which had a disproportionate effect on Australia, given our high commodity export exposure.
Chief Executive, Capital Markets Authority; Mr. Andrew Wachira, Acting Chief Executive, Nairobi Securities Exchange; Chief Executives of the Central Depository Agents; Chief Executive, Kenya Bankers Association; CEOs of Commercial Banks here present; Chief Executive, Kenya Association of Stockbrokers & Investment Banks; Distinguished Participants; Ladies and Gentlemen: I am pleased to join you today on this auspicious occasion to launch the Settlement System for Equities and Corporate Bonds through the Real Time Gross Settlement platform of the Central Bank of Kenya, commonly referred to as KEPSS.