To address these problems, the BOU has launched a program to promote financial literacy, through educational activities. The BOU has also prepared consumer protection guidelines for commercial banks and publicized these in the media. To conclude, I want to emphasize the complex challenges facing policymakers. There are fundamental economic reasons for why large parts of the population are excluded from financial services.
Eighth, the manufacturing companies’ assessment of changes in selling prices for the current quarter and expectations for the ensuing quarter obtained from the industrial outlook survey are well correlated with the year-on-year changes in the price level of non-food manufactured products (NFMP) component of WPI.6 Thus the survey indicators provide good lead information about the movements in the manufacturing price inflation (Chart 6).