Any given policy rate would thus be less restrictive than was earlier judged, implying that interest rates globally might have been lower than would have been optimal. However, since both global and domestic inflation have been largely contained over this period, we should not exaggerate the magnitude of this effect.
It is important that ongoing reviews of bank personnel are conducted at all levels as bank officers may be involved in promoting such schemes. Our investigation has revealed that some banks have not been abiding scrupulously by anti-money laundering laws and guidelines. Five of them would be imposed hefty fines with the concurrence of the Director of Public Prosecutions.