In the same spirit, the indicative exchange rates of individual banks are now published daily on the Bank’s website for public information since September 2009. In 2012, I initiated work to impose a cap on fees and charges for services provided by financial institutions and actually imposed the maximum allowable margin for same-day trading of forex.
While asset valuations have generally risen with improving fundamentals as well as increased investor risk appetite, household balance sheets are, on average, quite strong, business leverage has been declining from high levels, and the institutions at the core of the financial system remain resilient. Monetary Policy I will now turn to monetary policy.