The change will allow me to more fully and more frequently explain the Committee’s thinking. Last November we announced a plan to conduct a comprehensive review of the strategies, tools, and communications practices we use to pursue our congressionally assigned goals for monetary policy. This review will include outreach to a broad range of stakeholders across the country.
•  Lending rate of banks: Interest rates have trended down since early 2007 to around 8 percent now. •  Commercial banks’ private sector lending: Despite the credit ceiling imposed by the Reserve Bank, lending to the private sector has exceeded the credit ceiling due to special approvals given by the Reserve Bank for special investment projects.