And yes, when we are a stronger economy, when capital flows are of a stable nature are coming, the exchange rate will be subject to less volatility. And again, that will be an appropriate platform for taking further capital account reforms.
We’re not starting with the presumption that that’s the case – only that it could be. As a regulator, we recognise that our approach to these questions has to be quite different from the way we approach other cases for regulatory involvement. The RBA has significant powers, as you know, to designate payments systems and to set standards.