For this reason, we support the inter-agency initiative to establish a biometric National Identification system to improve the accessibility and delivery of financial services. We realize this will require a responsive security management framework to help guard our financial system against cyber-threats. In this regard, we have upgraded our preparedness.
In those earlier cycles, it was common for the Board to move interest rates multiple times, then wait for a while to assess the pulse of the economy, and move again if the situation warranted doing so. So, it is a return to that world.