The first is that aggressive monetary easing is maintained and tight labor market conditions are in turn sustained for a long period. The second is that actual inflation is reflected in wage increases resulting from the annual spring labor-management wage negotiations. Let me start by looking at the first factor: sustaining tight labor market conditions.
Thus, for example, while transactions volumes have been increasing, electronic banking remains rudimentary in Trinidad and Tobago and has not yet started to produce major cost savings for the banks. Our investigations suggest that the still limited acceptance of e-banking has to do with concerns about security, quality of internet connection and a general lack of awareness about internet banking.