This is contingent on how we approach the solutions to our domestic and regional economic, social and political problems. These approaches should be based on our vision, our technical capacity and a broad societal consensus on the goals of our societies and how to achieve them. With respect to the vision, the broad outlines are fully accepted.
Money supply is running well above the indicative path given in the Annual Policy Statement in April, driven up by the expansion in reserve money and high growth in deposits. With banks having launched aggressive mobilisation strategies, presumably in response to the high credit demand of the last few years, there has been high growth in aggregate deposits in the banking system.