What are the supporting policies? Let me turn to my second question, which is how the Bank of Canada’s toolkit, along with other public policies, can support whatever monetary policy framework we end up choosing. This is critical, since none of the options materially changes the need for an unconventional policy toolkit.
As a result, e-KYC was launched; interest rate for digital savings was increased; and the volume and quality of digital lending were improved. In the Philippines, the significance of digital finance in achieving financial inclusion is highlighted in the recently launched National Strategy Financial Inclusion, or NSFI 2022–2028.