Some of the key ones were:   A restriction on the honour-all-cards rule to allow merchants to make separate decisions for credit and debit cards;    A cap on Visa debit interchange (which was also voluntarily adopted by MasterCard);    A reduction in interchange fees for EFTPOS;    Agreement by the three-party schemes to remove no-steering rules;    Access regimes for a number of card-payment systems; and    Increased transparency of interchange fees and merchant service fees.
A rapid and sizable easing was made possible by reasonably well-anchored inflation expectations, which helped to keep underlying inflation at a modest rate, and by the prospect that inflation would remain contained as resource utilization eased and energy prices backed down.