cpi and core inflations will be convergent and under controlled. exchange rate passthrough has been benign, because of the weak domestic demand, commodity price declines, and very well anchored inflation expectation. on current account deficit. our macroeconomic adjustments in the past have succeded in lowering the cad from the peak 4. 4 % of gdp in q2 - 2013 to about 2 % for the whole year 2015. for indonesia, a cad of 2. 5 – 3 % is still sustainable, because we still need to grow and for that we need sustainable financing from fdi and other long - term financing. that is why, with 2 % cad in 2015, we have room for monetary easing without worrying to external sector stability. this year, with the economic recovery gains momentum, cad will be expected to widened but still within our long term sustainable cad norm of 2. 5 – 3 % of gdp. we expect more than enough external financing for these deficits, with fdi constitutes the majority of the capital inflows and to a lesser extent long - term private external borrowing and portfolio investments. on financial system stability. overall banking industry is sound, with car relatively high at about 21 %. lending growth is slowing, only about 10 % in january 2016. but with economic stimulus from both fiscal and monetary, as well as liquidity injection with 1 % reduction of reserve requirement that bank indonesia decided recently, we expect lending growth to increase to about 12 – 14 % this year. overall npl is low at 2. 7 % ( gross ) or 1. 4 % ( net ), although a bit increasing for some banks especially for the mining sectors. we have done bis central bankers ’ speeches analysis on the corporate risks as well as household risk. last year we record corporate earnings were declining as economy was slowing down. but overall corporates are adjusting quite well, as they are doing a lot of efficiency and early repayments of their debts, both local and external debts. with economy is rebounding, overall corporate performances will also improving this year. bank indonesia policy mix bank indonesia mandate is to achieve price stability ( inflation ) and maintain exchange rate stability to support economic growth. we also support financial system stability. for our policy making, we analyze and forecast macroeconomic condition two years ahead : inflation, economic growth, exchange rate, current account balance, and bank lending, taking into account the latest assessment on fiscal and financial system conditions as well as on global economic growth, interest rates,

to extend bank branches in remote and rural areas, directives on consumer protection, and directives on branchless banking and mobile banking services, among others. let me elaborate on some of these recent policies. first of all, the government through the budget for 2016 / 17 outlined some policy directions related to expansion of banking and financial services in the rural areas, promotion of mobile banking and branchless banking, continuation of government led programs such as rural self reliance fund ( rsrf ), poverty alleviation fund ( paf ), youth and small entrepreneur self - employment fund, and the implementation of subsidized agricultural lending program. secondly, the nrb has been providing direct financial support to the banks and financial institutions that set up branches in remote areas where the number of banking units is minimal. three, in its monetary policy of 2015 / 16, the nrb made an arrangement of special refinance facility at 1 percent interest with the objective of encouraging bfis ( a, b, and c class ) to extend loans to agriculture and small business - based income generating activities in poverty - stricken areas of the country. four, as per monetary policy of 2016 / 17, necessary provisions would be made to support the movement of opening ‘ at least one bank account for each household ’ and the arrangement of distributing social security allowances through the bank account. five, the final drafts of the national financial literacy policy and the financial sector development strategy ( 2015 - 2020 ) have been submitted to the government for approval. finally, the nepal financial inclusion roadmap ( 2017 – 2022 ), released on july 2016, is expected to guide future initiatives around the immediate priorities for financial inclusion. ladies and gentlemen, let me conclude. financial inclusion can empower even the poorest person and bring about a dramatic change in his fate. financial inclusion is not a one - time effort ; it is an ongoing process that demands concerted and team efforts from all the stakeholders including the government, financial institutions, the regulators, the private sector and the community at large. there is growing urgency in both the public as well as the private sector to promote financial inclusion. though country reforms are starting to bear fruit and should enable countries to move many steps closer to greater financial inclusion, much still needs to be done. finally, by providing a platform for high - level dialogue on financial inclusion, this forum, i expect, would review the current trends, recent achievements, ongoing challenges and opportunities within the region relative to financial inclusion and