That Agreement can be changed by mutual agreement at any time during the Governor’s term of office, and can be overridden by Order-in-Council if the Government wants a change and the Governor does not. So what monetary policy will deliver in the years ahead is essentially a matter for the public, through Parliament, to determine.
As for the outlook, upward pressure on prices is likely to arise from the gradual improvement in domestic supply-demand balance, as shown in the decline in inventories, and from the rise in crude oil prices.