Promoting fintech might reduce inequality – BIS’s Pereira da Silva

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Luiz Awazu Pereira da Silva

Luiz Awazu Pereira da Silva

Inequality can harm monetary policy transmission, but promoting fintech may be one way to reduce this impact, Luiz Awazu Pereira da Silva said on January 13.

The Bank for International Settlements’ deputy general manager said recent research had found that high concentrations of income impair policy transmission. He told a roundtable event that wealthy households have a lower propensity to consume and therefore respond less to changes in monetary policy.

By supporting new financial

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