BIS Review 126/2006  1  This outlook for price developments remains subject to upside risks, stemming in particular from a stronger than expected pass-through of previous oil price increases, as well as the possibility of renewed oil price increases and of additional increases in administered prices and indirect taxes beyond those announced and decided thus far.
In this context, since January 2018, the application of PSD2 1 and the related set of guidelines and technical standards for the security of payment and investment services in the EU facilitate innovation, and efficiency preventing regulatory arbitrage and promoting equal competition.