Radha Somakumar is gratefully acknowledged. Mr Jaganathan, distinguished guests, officers and staff of TMB and ladies and gentlemen. It is my pleasure to be amongst you on this occasion of the launch of mobile banking service by TMB. TMB which has a history of 90 years of banking has come a long way from 4 branches in 1947 to 258 branches as on date.
Looking ahead, underlying inflation is expected to pick up towards the end of the year and then increase gradually over the medium term, supported by our monetary policy measures, the continuing economic expansion and rising wage growth. The latest ECB staff projections foresee annual euro area headline inflation at 1.7% in 2018, 2019 and 2020.