ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members—49 from the region.
ORGANIZATION
ACCOUNTABILITY
ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
ABOUT ADB PROJECTS
PRODUCTS AND SERVICES
KNOWLEDGE
SECTORS AND THEMES
Sayuri Shirai
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Central banks are facing a range of growing challenges that have arisen from recent trends in aging populations, low productivity, and new technology and innovation.
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Given technology's rapid progress, it is possible that central banks may increase their interest in digital currency proposals based on distributed ledger technology.
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Cash demand tends to grow with a decline in the policy rates and with an advancement of aging.
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Digital coins have attracted considerable attention globally because of their potential to serve as a new type of payment tool.
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Unconventional monetary easing by the Bank of Japan (BOJ) since 2013 has contributed to the yen’s depreciation, higher stock prices, and higher corporate profits.
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The Bank of Japan’s purchase of exchange-traded funds under monetary easing policy is unprecedented in scale and duration among major central banks.
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In April 2013 the Bank of Japan launched an unprecedented quantitative and qualitative monetary easing policy. It was thought that a 2% price stability target could be achieved within 2 years; 4 years on and we are still mission incomplete.
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Asia and the Pacific region faced an outflow of portfolio investment during the start of the global financial crisis and a new wave of cross-border portfolio inflows after the cris.
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Tokyo could become a regional financial center, but it faces challenges as Japan’s cross-border transactions are mainly with developed economies such as the US and Europe.
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Investments that Consider Environment, Social, and Corporate Governance Issues Can Help Reduce Carbon Emissions
More funds should be allocated to innovative firms and essential projects in the areas of renewable energy, electronic vehicles, storage batteries, hydrogen technology, and carbon capture, usage, and storage.