SGFinDex uses the national digital identity and a centrally managed online consent system to enable Singaporeans to access their financial information held across different government agencies and financial institutions. Singaporeans can seamlessly consolidate their financial information, and use digital tools to make holistic financial planning decisions. 2/3  BIS central bankers' speeches  Singapore is now looking at how our digital infrastructures can be made interoperable and connected with the rest of the world. The PromptPay-PayNow connectivity that links domestic payments between Thailand and Singapore will go live very soon. India’s Rupay and Singapore’s NETS were connected last year to make merchant payments interoperable. But linking payment systems bilaterally is complex and expensive, due to the different technical and data standards as well as legal regimes. We must explore multilateral cross-border payments in a more scalable way. The Bank for International Settlements (BIS) Innovation Hub Centre in Singapore is exploring how payment systems could be linked together to enable faster and cheaper cross-border payments. There is strong synergy between the BIS Innovation Hub’s work on a cross-border payments bridge with MAS’ work on foundational digital infrastructures. MAS plans to collaborate with the BIS Innovation Hub to explore opportunities to improve cross-border payments by connecting payment systems to digital identities across borders. We are also engaging financial regulators and central banks globally on their digital infrastructure initiatives to explore similar synergies and opportunities to move forward as a global digital community.

Changes to the target range for the policy instrument - the 3-month Libor - are commented by a press release. They are also discussed after each Quarterly Board Meeting, which are fixed in advance. At our biannual press conferences, we provide our assessment of the economic situation. At these occasions, we inform the public how we judge the risks facing the economy and present our inflation forecasts for the next three years. The forecast should guide the public in monitoring inflationary risks. Given all this, we have taken the extra step to publish the forecasting models that are used to generate our inflation forecasts. The meaning of faith in financial markets Trust is relevant not just for central banks but also for the entire business and financial community. Trustworthy business standards are one of the most important forms of social capital. Trust is paramount to the efficient operation of financial markets, which is a key ingredient of a well-functioning economy. This trust includes confidence in the people who run the companies, and in those who watch them. It also means that the information required to make sound investment decisions is disclosed fully and accurately. The disclosure moreover must be fair. There must be confidence that insiders are not trading on information unavailable to everyone. Only when all these components of trust are in place do we have healthy, efficient financial markets where everyone benefits. What is lost when accounting fraud and the abuse of management power occur?