Nevertheless, as the underlying trend in prices steadily rises and the effects of the decline in crude oil prices dissipate, the rate is likely to accelerate toward 2 percent – the price stability target. Risks to the outlook are those that primarily stem from overseas factors.
It is however, important to note that increased innovation comes with increased risks. I therefore urge Orient Bank to design robust risk management processes and internal controls to mitigate the risks inherent in technological advancement. Turning to today’s event, the new Acacia Mall is in a very strategic location, as illustrated by the number of banks that have established outlets at this Mall.