Therefore, any kind of implementation, initiative and disclosure that might lead to deterioration in risk perceptions and expectations affect the disinflation process and macroeconomic stability in a rapid, harsh and negative way. In this respect, relations with the IMF and the EU are two important anchors, especially as to medium and long-term expectations. These two factors should remain as anchors in the upcoming periods, as they bear significance for the enhancement of confidence in our country, the uninterrupted implementation of structural reforms as planned and the predictability of our economy in the medium and long-term. The Central Bank analyzes all kinds of risks in its scenarios designed to foresee inflation and makes its forecasts accordingly. As I have mentioned earlier, on condition that the cautious stance of monetary policy, fiscal discipline and structural reforms continue, the targets set for 2007 and 2008 seem to be attainable. The target we set for 2007 and 2008 is 4 percent and all our policies are directed towards attaining these targets. It is of critical importance that economic agents use these targets as a reference while drawing up their future plans. The floating exchange rate regime that is implemented today is the sine qua non of the inflationtargeting regime. The basic principle of formal inflation targeting is to target only inflation itself and to make no commitments other than the inflation targets.
WC-FINC aims to reduce the average financial exclusion level in ASEAN to 30% by 2025, and increase the level of infrastructure readiness in ASEAN to 85% (currently at 70%), based on agreed measures of financial inclusion outcomes and preconditions. Particular emphasis is given to capacity building and peer learning. An especially interesting part of this journey has been ASEAN’s incredible diversity which provides a rich and broad canvass for drawing lessons from every country on specific challenges faced and measures pursued to increase financial inclusion. For some of us, the geographic barriers to financial inclusion are the most urgent, for 1/3  BIS central bankers' speeches  others, cost or knowledge and trust are more significant barriers. In different ways, we all have something to learn from each other’s experience on strategies that worked or did not work so well. This is why we are here today. This Forum on financial inclusion was organised in response to technical assistance requests and learning needs of ASEAN countries based on a survey conducted by WC-FINC last year. There was particular interest in Malaysia’s experience and so we volunteered to host this first Forum, but clearly, we are also eager to learn from others. The Forum focuses on 5 key areas which represent core pillars of a holistic financial inclusion system. The first is the development of a national financial inclusion strategy and monitoring mechanism which are crucial to ensure that strategies are well targeted, coordinated and executed.