The possibility of a higher pass-through to prices has increased as a result of the additional peso depreciation in recent weeks and the potential for further pressures on the peso in the short term, especially in view of the upcoming presidential election in the United States. Depreciation of the peso is explained by a combination of external and domestic factors.
The Dutch central bank is one the leading institutions with regard to research in the field of cash management in the Eurosystem and I look forward to hearing more about the various links between research and operational aspects. No doubt, there is currently a rather active strand of research into distributed ledger technologies and various forms of digital money.