This Economic Report seeks to set out graphically and statistically the significant trends in our economy as affecting our external and internal position.It further seeks to correlate and explain these trends and their implications in as lucid a manner as possible.In the remarks which I shall make at the Annual General Meeting of the Bank on 23rd August, I shall in largepart endeavour briefly to describe and discuss the various monetary policy measures to which these trends gave rise, and to set out what appear to be their implications for the immediate future.Accordingly, the Economic Report should be regarded as forming the background to my remarks.