In fact, the last time the rate of inflation for non-durable goods was lower than the current level was when Walmart entered the Canadian market in the mid-1990s. Overall, our expectation is that while increased competition will have a permanent effect on the level of prices, its impact on the rate of inflation will be transitory.
Extend the outreach of financial services in a holistic manner with focus on underserved regions and poor and vulnerable groups. Islamic banks will be allowed to pursue their plans for branch expansion as long as Islamic banks, like conventional banks, open at least 20% of new bank branches in rural areas.