The first piece of context should be obvious to all. Money is evolving in an increasingly digital global economy. Day-to-day use of physical cash is continuing to decline. COVID-19 has reinforced this trend. But, we also know that cash remains a vital tool for many New Zealanders, and we want to ensure its continuing availability and acceptability.
The outlook for Japan's economy and the conduct of monetary policy  In view of the two problems I have discussed, I would now like to talk about the outlook for Japan's economy and the Bank's conduct of monetary policy.