That was necessary under the circumstances: if inflation was to decline over time to be consistent with the 2-3 per cent medium-term target, a precondition was to contain demand, which had run too far ahead relative to productive capacity.
May I also take this early opportunity to welcome our distinguished guests from all over the world to this beautiful land of Kenya, which enjoys a diversity of stunning and captivating landscape, wildlife and culture? I kindly urge you to take part of your time during your stay to enjoy this diversity and to always come back to enjoy it.