So where separate supervisory authorities are being established, it is important to set up a structure that promotes the necessary exchange of 1  2  C A E Goodhart: “The Organisational Structure of Financial Supervision”, FSI Occasional Paper No 1, BIS, Basel, 2000. BIS Review 13/2001  information and coordination.
But we've come a long way from the 8.1% inflation we saw last summer, and we see further declines ahead. Annual CPI inflation declined to 5.2% in February, led by falling goods price inflation, which reflects lower energy prices, normalizing supply chains and the effects of restrictive monetary policy on interest-rate-sensitive sectors.