a series of media. we have identified at least six topics that we will be addressing on a phased basis through face - to - face interaction with these groups. we will commence with presentations on budgeting and saving. over the next three ( 3 ) to six ( 6 ) months, the programme will promote budgeting and saving as key elements of proper financial management. we will then review the programme, with a view to tweaking and improving it where necessary before we roll out the other topics. other topics we hope to address in this phase are : borrowing and purchasing a home, credit / debit cards, insurance, retirement planning and estate planning, and investing and the stock market. we believe that this direct intervention will be key to influencing changes in personal financial management and we therefore hope to utilise this medium extensively. we have identified several groups that can possibly benefit from these presentations. however, if you have a group or know of one that might be interested, please contact the bank. we will seek to accommodate you where ever possible. in addition to dialoging with you in open fora we intend to use the mass media and the internet to spread our messages and to inform and educate you. we are also hoping to work with the ministry of education to create a programme specially for school children as we believe that financial literacy is better started with the young. we recognize that education about managing personal finances should begin at an early age. hence, we hope to place considerable emphasis on the programme for children of school age. let me reiterate that the national financial education programme is not intended to create financial experts, but to help you improve your financial circumstances and assist you in realizing your financial goals : be they purchasing a home, planning for your kids ’ education, planning for retirement or insuring your home. it is designed to assist you in improving the financial decisions that affect your everyday lives. before crafting our programme, we conducted a survey so as to measure whether barbadians would embrace it. we canvassed about 25 workplaces and we received responses from 250 persons, including the bank ’ s staff. the results of the survey show that barbadians are receptive to the national financial education programme. the respondents felt that education on such areas as budgeting and investing, coping with the cost of living, retirement planning ; purchasing a home, financing a child ’ s education and credit and debit card management was key. their responses were consistent with the subject areas on which

capped the interest rate on euro - indexed housing loans for first - time homebuyers last year, taking a pre - emptive action to safeguard financial stability. we are now preparing legal solutions aimed at capping the maximum interest rates banks can offer on some categories of household loans. this will help increase 8 оf 9 citizens ’ disposable income, while further strengthening the transmission of monetary policy measures through the interest rate channel. in the remainder of the conference, our colleagues from the economic research and statistics department will present our projections in more detail, and after that, please feel free to ask questions. 9 оf 9