Our latest assessment shows that inflation will be just below the lower end of the government’s target range for this year, but should move to within the target range of 2–4 percent in 2017–2018. The banking system has also been an enabler of economic growth as it continues to channel lending to the productive sectors of the economy.
This, without sacrificing credit underwriting standards and the quality of their balance sheets. In the meantime, our external liquidity position has been robust. We have been running current account surpluses for 13 years now, allowing us to beef up FX reserves to an all-time high of $ billion as of end-July 2016.