The operational activities of the payment system include the provision of currency and a range of payment and settlement services. 12  8  The Bank also has an important role to play in supporting the financial sector’s cyber resilience. Cyber-attacks globally are rapidly evolving and highly contagious.
After reaching this year’s low in April, we expect inflation to gradually approach the target in the coming period, though this year it will remain close to the lower bound of the target tolerance band. We expect inflation to approach the 3.0% midpoint in the second half of 2019, and to remain stable around that level until the end of the projection horizon.