Traders from the West, the Middle East, India and China crossing this part of the world used to regularly meet here in Mauritius for purposes of payments and settlements. The piastres, Indian rupee, Pound sterling, the US dollar, gold and silver used to be the means of payments and settlements. A characteristic feature of the hub was free banking.
Governing Council sees stronger household spending as an upside risk to inflation in the short term, but a downside risk over the longer term. Meanwhile, exports and investment are still weaker than one would expect at this stage of the business cycle, even though growth in the global economy has also surprised on the upside.