Calm was restored in financial markets, and employment and output began growing in May, but it was a very deep hole to fill. Rapid progress over the summer gave way to slower growth over the past winter as COVID-19 infection rates surged. But in recent weeks, with steep declines in virus-related hospitalizations and deaths, the outlook has brightened.
2 Given the complex, rapidly changing and borderless nature of cybercrime, no single firm or regulator can successfully tackle the risk alone. Cybercrime’s international nature will require a collaborative response from governments, regulators and industry. Let me tell you what we are doing at the Central Bank about it.