promoted by bank indonesia is the financial identity number ( fin ). 8. fin is a unique, inherent, lifetime, simple, transparent, and interoperable number provided to the community, including unbanked people. the aim is to reduce asymmetric information & risk premium, facilitate and increase financial access of the community, and facilitate financial institutions to obtain world bank report “ global financial inclusion index “. bis central bankers ’ speeches information on customer candidates / customers. for bank indonesia, fin is very useful to produce more structured database and information on people receiving services from formal financial institutions. however, more importantly, fin will become one of the main data sources to make profiles ( rating ) of accurate individual or household finance to facilitate banks in extending cheap but quality credit package without any collateral. 9. bi has been developing fin since 2012 by collecting information through a baseline survey using secondary data and comprehensive survey by direct interviews with respondents. bi is consistently improving fin business model, among others through information system development and database expansion by formulating digital questionnaire concept, which, at the initial phase, will be tried through digital financial services agents. in this relation, the nin ( e - resident ’ s identity card ) database will be used to establish fin data to allow acceleration of data capturing process and avoid fin data duplication, thereby ensuring fin data singularity of each person. ladies and gentlemen, 10. we are pleased that bank indonesia ’ s policies and work programs to increase public welfare, among others through electronification and financial inclusion, may synergize with the program for population data, national identity numbers, and electronic resident ’ s identity cards by the ministry of home affairs, to give greater benefits for the financial system in particular and indonesian people in general. 11. we believe this cooperation agreement signing is the first step for both institutions, and further technical steps are definitely necessary to realize the expected benefits. 12. to conclude, we would like to extend our highest appreciation and gratitude to the ministry of home affairs and all parties supporting the realization of this cooperation agreement. may god the almighty bless our sincere intention and steps and bestow us with smooth implementation thereof. thank you. wassalamualaikum wr. wb. bis central bankers ’ speeches

yakiv smolii : national bank of ukraine press briefing - monetary policy statement speech by mr yakiv smolii, governor of the national bank of ukraine, at a press briefing on monetary policy, kyiv, 5 september 2019. * * * dear colleagues, the board of the national bank of ukraine has decided to cut the key policy rate to 16. 5 % per annum, effective 6 september 2019. the nbu is continuing the cycle of monetary policy easing, as it expects inflation to decline to the target of 5 %. what inflation developments followed the last monetary policy meeting? despite seasonal decrease of prices in july, inflation in annual terms was higher than our forecast and made 9. 1 % the nbuestimates inflation to have declined in august, although still remaining above the forecast level. the deviation was mostly driven by temporary factors related to food supply, in particular the supply of vegetables. meanwhile, core inflation was 7. 4 % was in line with the nbu ’ s forecast. the tight monetary policy continued to hold back the underlying pressures on prices, in particular through the exchange rate channel. the appreciation of the hryvnia had the strongest impact on prices of fuel and some food products. however, disinflation was restrained by the greater consumer demand and the rise in real wages by almost 10 % over the year. what are the future inflation developments? the nbu reiterates its forecast that inflation will meet the 5 % medium - term target at the end of next year. macroeconomic factors in place since the previous monetary policy meeting of the nbu board have not changed the balance of risks to the forecast. on the one hand, according to the nbu ’ s estimates, a strengthening in the exchange rate will help curb inflation in the next few months. the hryvnia appreciation was driven by fundamental market factors, such as : favorable global commodity prices good harvest of grain crops continued growth in it services exports a stronger investor confidence in the ukrainian economy the simplified access to the domestic government securities market for investors. that reduced the amount of repatriated dividends and spurred demand for domestic government bonds. although the impact of foreign capital inflows on the domestic government bond market weakened substantially over past weeks, the foreign exchange market has remained in balance. the current drop in global oil and gas prices will be translated to domestic prices, with a certain time lag. on the other hand, the rapidly rising domestic demand and strong wage growth will