We did another study at the Committee’s request recently which was published in our October Bulletin. As Committee members also know, the Reserve Bank has been meeting with its Small Business Finance Advisory Panel since 1993 to discuss the provision of finance to that sector.
Second, it may imply a backtrack in policy direction if at end we did not need such a strong action to cope with medium term inflation expectations, that I do not see de-anchored, as we speak. My first principle for good economic policy of any sort is to act at the margin.