Physical currency in circulation rose by around $ million over the month of March.20 Around a year’s worth of normal demand for $ notes was put into circulation by banks in the days leading up to the start of Alert Level 4 lockdown on 25 March.
This suggests the possibility that the effects of zero interest rates might strengthen gradually. B. Price stability target and medium- to long-term inflation expectations  As I have explained, developments in economic activity and prices have been on an improving trend.