It also took some time for the markets to fully understand our monetary policy strategy, that is, the conceptual framework on the basis of which the Governing Council assesses the economic outlook and the risks to price stability, takes decisions about the appropriate monetary policy stance, and explains these decisions to the markets and the public.
Let me highlight a few of these developments:   The growth of technologically enabled financial services, especially through the inter-linkage of mobile phone technology platforms and banking technology platforms;    Increased regional and international expansion and connectivity of financial service players as well as increased market potential to the region;    Increased market awareness of customer rights and the resultant emphasis on consumer protection; and    Strengthening of oversight mechanisms to protect the integrity of financial systems.