The buoyancy of domestic demand suggests room for measured interest rate action without causing serious effects on the real sector. Meanwhile, we have continued to institute reforms to further strengthen the banking system and deepen the domestic capital market.
These reforms are focused on further enhancing the regulatory framework through the continued implementation of the BASEL II framework; accelerating the implementation of risk-based supervision; improving corporate governance, including by promoting compliance with international accounting and financial reporting standards; continuing to promote microfinance lending to improve small businesses’ access to credit; and supporting the deepening of the domestic capital market.