recognize that this is a fairly strong medicine, so 3 / 4 bis - central bankers'speeches we are looking to potentially put this measure in place at the beginning of 2025, taking into account the economic context at the time to ensure it is the right timing. in implementing financial policies, i think that what has characterized our approach all throughout is that we have been flexible, pragmatic and not too rigid. most importantly, these measures would aim to reduce the level of household debt to a more sustainable level over the long - term. to conclude, i hope that these policy measures we have undertaken, both monetary and financial policies, together with some of our long - term structural initiatives on the digital and transition finance, will help lay the foundations for a long - term sustainable recovery in thailand. thank you very much for your attention and i wish you a pleasant and productive thailand focus. 1 the mpc has raised the policy rate 7 times since aug - 22, bring it to the current level of 2. 25 % 2 low - income debtors who have been paying more interest than principal over the past five years. they will have an option to close out their debt within a reasonable time frame, five years, and at an interest rate not exceeding 15 %. 4 / 4 bis - central bankers'speeches

– by comparison with instant payments – 30 times more slowly, and is about 10, 000 times more expensive. the inefficient processing makes transactions costly not just from a financial perspective, but also in terms of the environmental impact. bitcoin in particular has a large carbon footprint due to the electricity consumption required for its creation and transfer. in addition, because virtual currencies do not have a trusted issuer behind them, they may become worthless at any time. it is not surprising, then, that virtual currencies are not widely accepted as a means of payment. conclusion the future of payments is instant and most countries in the euro area are moving with the times. this is a natural development, following the rise of real - time services in other industries. the industry ( with the support of the eurosystem ) has stepped up to the challenge and developed a scheme and an infrastructure that enable such services to become the new normal for euro payments. now it is time to go one step further and provide efficient and innovative end - user solutions that allow consumers and businesses across europe to make instant payments in any payment situation, especially at the point of sale, where the majority of retail payments are made. i encourage new and existing service providers to take the opportunity to develop pan - european point - of - sale solutions based on instant payments. these solutions should be efficient, userfriendly and secure. as you are all aware, high security standards are essential to retain public trust. i therefore reiterate my call to payment service providers to adhere to the psd2 regulatory technical standards on strong customer authentication and common and secure communication as soon as possible, even before they are legally required to do so. by providing services that are safe, as well as fast and convenient, the payments industry will succeed in meeting the needs of a digitalised society. 3 / 3 bis central bankers'speeches