I’m sure Teresa would have appreciated this conference’s gathering of academics, industry participants, and policymakers to exchange information and discuss current research related to financial innovation. Why is fintech important?
People expect higher prices. Therefore, they raise prices. Therefore, we had little choice but to act aggressively. We have raised policy rates from 200 basis points (bps), when [Finance Sec.] Ben was still BSP Governor, to 600 bps. And, by and large, our experience is that [response] will make our [inflation] targets achievable.