While the deficit on the current account of the balance of payments remains at elevated levels, some pressure on the import side will be taken off by growth, lower oil prices and the poor performance of the rand.
* * * Thank you, and thank you to all the educators who have come to the Board this evening or travelled to one of the Fed’s regional Reserve Banks to watch and listen via the webcast. I am very much looking forward to hearing from you about teaching economics, and I am eager to respond to your questions.