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.
Given technology's rapid progress, it is possible that central banks may increase their interest in digital currency proposals based on distributed ledger technology.
Cash demand tends to grow with a decline in the policy rates and with an advancement of aging.
Digital coins have attracted considerable attention globally because of their potential to serve as a new type of payment tool.
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.
The Bank of Japan’s purchase of exchange-traded funds under monetary easing policy is unprecedented in scale and duration among major central banks.
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.
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.
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.