##ion to foreign exchange reserves after financing the cad. the macroeconomic outlook is, however, subject to risks from both global and domestic uncertainties. adverse global developments such as a slowdown in the pace of global recovery, financial market turbulence due to a faster than expected withdrawal of accommodative monetary policy in the advanced economies, hardening of commodity prices on geo - political tensions and / or weather - related supply disruptions, could have deleterious consequences for all emerging market economies. growth - inflation debate 5. estimates of threshold inflation for india currently vary from 4 per cent to 6 per cent based on methodology used and time span of the study. some estimates carried out in the reserve bank 1 using multivariate methods on quarterly data indicate that the level of “ why persistent high inflation impedes growth? an empirical assessment of threshold level of inflation for india ” ( rbi working paper series no. 17 for september 2011 ). bis central bankers ’ speeches cpi - combined inflation ( all india back - casted using the cpi - iw ) above which it is harmful to growth is around 6 per cent. 6. growth - inflation trade - off in india is complex, particularly when inflation is above the threshold level. hence, our belief in rbi is that monetary policy possibly cannot spur growth by tolerating higher inflation. in turn, when inflation returns to below the threshold level on a durable basis, risks to inflation from addressing growth concerns may not be significant. thus, we feel that it is important for india to ensure price stability as a necessary means to promote sustainable growth. external sector 7. net foreign assets of the reserve bank have expanded by nearly rs. 1. 2 trillion during the year so far. all categories of capital flows have been buoyant, particularly under fdi, fii, ecb and non - resident deposits. notwithstanding these flows, in the absence of a strong demand for liquidity from the market, drivers of reserve money are compensating each other with the increase in net foreign assets largely offset by a reduction in net domestic assets. 8. an overall improved macroeconomic condition reflected in lower cad, fiscal consolidation, upbeat market sentiment and an accretion to the foreign exchange reserves have enhanced the capacity of the country to manage external spillovers better. the recent surge of interest in india reflects the revived assessment about the country ’ s underlying potential. rbi remains prepared to manage external spillover and india has the experience of managing phases of surges in capital

elson gaskin : data protection in the financial sector and why it matters speech by mr elson gaskin, governor of the central bank of barbados, at the data protection conference " compliance beyond borders – insights from financial regulators ", bridgetown, 20 march 2024. * * * like our sister regulator the financial services commission, the central bank of barbados is proud to be associated with this data protection conference, under the theme " compliance beyond borders – insights from financial regulators. " in fact, had we not been legitimately invited we would have engaged in our own version of a data breach and crashed the party anyway. i am pleased however that proper etiquette and decorum prevailed, and it did not come to that. so, thanks very much warrick and alicia! one of the major objectives of the central bank of barbados is to promote financial stability that is conducive of the orderly and sustained economic development of barbados. we all know that financial stability is inextricably linked to the confidence which the users of a financial system have in its operational resilience. every day, banks, credit unions, insurance providers, and investment firms deal with vast amounts of personal data ; some of it being sensitive in nature. this data may consist of names, email and physical addresses, telephone numbers, and government - issued identification documents. categories of sensitive information include financial status, race, religion, sexual orientation, political opinions, religion, criminal records, and involvement in legal proceedings. there is also now in some jurisdictions the question of health data. due to the possible harm that will otherwise result to an individual, customers'financial and personal information needs to be protected from theft, unauthorised access, and misuse. if then financial consumers come to believe that our system is porous relative to the way that their data is stored and maintained, such a belief could affect financial stability, as in the event of a breach, persons could move their funds away from a particular institution or institutions. it is for this reason that the central bank has a vested interest in ensuring that all institutions under its remit, properly comply with the requirements of the data protection act 2019 - 29 of barbados and the data protection pillars that underpin it. these pillars indicate that personal data must be processed lawfully, fairly, and in a transparent manner ; is collected for specified, explicit, and legitimate purposes ; is adequate, relevant, and limited to what is necessary ; is accurate and kept up to