All of these considerations supported monetary expansion, meaning a reduction in the interest rate. Against these considerations, there is, of course, the housing market and the continued increase in home prices. In this context, I will mention that there are other tools available to the Supervisor of Banks in order to reduce the risks in this market, and we have used these tools.
Technology has, for better or worse, undeniably brought about a change, hitherto unimagined, in our life styles. The transformation brought about by technology in the area of delivery of financial services has, thankfully, only been for the better.