We are still expecting that it will rise over the next 12 months, largely because falling import prices, which were pushing inflation down, have given way to increasing import prices.
In the meantime the Minister for Finance has announced that he is seeking Board and Management renewal plans from all the banks. He has also said that he would expect all board members (both executive and non-executive) who were in place at the time of the guarantee to step down from their posts by early next year.