The data that emerged over the summer saw somewhat firmer growth, a lower exchange rate and higher inflation than had been embodied in the outlook as at the end of last year. This led the staff forecasts for both growth and prices to be revised higher for the February meeting and the subsequent Statement on Monetary Policy.
Approaches to meet the challenges  Strengthening capital base consistent with risks Next, I will offer my views on what kind of approaches might be necessary for meeting the challenges. First, strengthening capital bases that are consistent with the risks held by financial institutions. The review of the regulatory framework including the capital adequacy ratio for financial institutions has been discussed globally.