Here in Trinidad and Tobago, against a background of very robust economic growth, estimated at 7 per cent, inflation rose from 3.8 per cent in 2003 to 7.0 per cent in 2005. In most of the other economies, the main driver of inflation was the substantial increase in international oil prices.
Uninsured deposits, again adjusted for the effects of mergers, have grown at average annual rates of 21 percent at the small banks versus 10 percent at the large banks. Clearly, small banks have a demonstrated skill and ability to compete for uninsured deposits.