With respect to the nonbank financial sector, there was a clear need for greater transparency, less leverage, and more stable forms of liquidity transformation. One important change to the banking sector was the adoption of a macroprudential perspective to supervision and regulation.
At the last informal UBA dinner I said that, provided that the outlook for inflation did not deteriorate, the BOU hoped to further lower the policy interest rate gradually during the course of 2017. Page 7 of 9  Accordingly we reduced the Central Bank Rate by 50 basis points at our Monetary Policy Committee meeting last month.