Overall, conditions have eased considerably, and I am sure that there won’t be an exporter in the country who is not a good deal happier with the present mix than with the one we had three or four months ago.
But aren’t monetary conditions still too tight, given the low level of business and consumer confidence, the general flatness of the economy, and the fact that, on the Reserve Bank’s own figures, we will have inflation at or slightly below 1 percent by the end of this year and into 1998?