For example, despite the 4-1/4 percentage point increase in shortterm interest rates over the past two years, the interest rate on a thirty-year fixed-rate mortgage has increased only about 1/2 percentage point, and borrowing costs continue to be relatively low. The ongoing growth in real incomes and the recent increase in the stock market wealth of households should also support the demand for housing.
The AFI also provides many case studies, research reports, and other information, which will help us generate ideas for Bahamian financial inclusion. The Central Bank’s digital currency initiative, for which we received expressions of interest through September 15th, is a financial inclusion, AML and economic efficiency prospect. The returns against these metrics will crystallize at varying pace over time.