As regulators, we need to continue finding ways to improve the policy and regulatory frameworks to foster innovation whilst also ensuring that data protection, cybersecurity, financial consumer protection and financial education, amongst other aspects, are not overlooked. These elements are crucial if we are to be successful in improving accessibility, increasing the uptake and embedding trust in digital financial products and services.
The two most prominent measures of resource tightness, capacity utilization in manufacturing and the rate of unemployment, have historically moved fairly closely together over the cycle. However, they have diverged in the past several years, in part as the surge in investment has provided considerable capacity to the manufacturing sector while labor markets have become tighter and tighter.