The Financial Stability Council (FSC/Council) met on 30th April 2024 to deliberate on the state of domestic financial stability and macroprudential policy considerations. The Council assessed conditions in the financial sector including external influences and evaluated emerging developments and vulnerabilities that could lead to undesired consequences for the financial system. The FSC's assessment is that the domestic financial system remains resilient, robust, safe, sound and unconstrained in providing, innovating, and growing the range of financial services to support the economy anchored on sound policy and regulatory frameworks. The FSC, thus, concluded that prevailing conditions do not warrant any macroprudential policy action at this point but, buttressed the need to maintain robust monitoring frameworks for threats and vulnerabilities to inform timely policy responses to safeguard financial stability.
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