The technology is now being studied and tested by many financial market participants. Central banks are no exception, primarily testing the possibility of adopting the technology in financial market infrastructures and payment systems. Even considering the short and medium term outlook, it is impossible to say with certainty how the landscape of the financial services sector will evolve.
12 Currently, there is a greater dispersion than usual of views about future inflation in survey responses. Previously this reflected a rise in expectations for significantly above-target inflation, but now that dispersion also reflects expectations on the part of one quarter of respondents that prices are likely be the same or below their current level 5 to 10 years in the future.