The setback in the U.S. economy appears to have been mainly temporary, as U.S. labour market performance has been strong. In Canada’s non-resource sector, the labour market has been performing well, and our conversations with companies indicate rising capacity constraints. This implies that increased investment and more employment gains are likely in the months ahead.
Second, SBP is working towards Open Banking regime to facilitate the implementation of its agenda on financial inclusion and digitization. SBP is exploring areas such as open Application Programming Interfaces (APIs), and security and data privacy to foster innovation and financial inclusion.