The Governor indicates some directions in which he hopes further progress can be made over the next five years. He discusses:
- the need to maintain momentum on monetary policy and says ' ... you will find that I am no less dedicated to this aim than was my predecessor, and no less determined';
- international collaboration to reduce exchange rate variability where ' ... countries should not overlook the implications for exchange rates of their [domestic} policies';
- developments in financial markets, including the Stock Exchange where he hopes the continuing debate ' ... will keep prominently in mind the twin objectives ... assurance of a central market and investor protection'; and
- the international debt situation where ' ... if we are to see healthy growth in the world as a whole, and in the developing countries in particular, there will be a need for considerably more non-bank finance than in recent years'.