However, since inflationary pressures started building up, the MPC adjusted its monetary policy stance and proceeded to two successive hikes in the KRR in March and June 2011. Inflation rose sharply from 1.7 per cent in June 2010 to 5.1 per cent in June 2011.
  The year was characterised by a system plagued with excess liquidity, a situation diametrically opposite to what prevailed in many leading economies. The Bank  BIS central bankers’ speeches  1  innovated by issuing instruments of longer maturity, namely Bank of Mauritius Notes of 2-Year, 3-Year and 4-Year maturities.