Using the consumer price index as a deflator, expenditure in real terms increases by 2.5 per cent, broadly in line with the average for the last ten years (2.3 per cent).
The third  BIS central bankers’ speeches  5  factor of efficiency is assurance. All the stakeholders should have assurance in using the retail payments system. The retail payment system should have inbuilt capability to protect consumers’ interest, particularly in the electronic payment environment.