We are a supply-constrained economy not demand constrained. Negative inflation has also triggered speculation about further rate cuts. I want to reiterate here that the Reserve Bank looks at a number of indices, including the WPI, the four indices of CPI. We also look at the inflation expectations survey that we do.
Personal remittances are becoming an important source of foreign exchange reaching $ million in 2005 from a level of $ million in 1995. This MoneyGram service will definitely make it more accessible, convenient, efficient and simpler to receive remittances from friends and families abroad. We in the Reserve Bank are in the process of learning more about remittances.