As many of you know, the Bank of Canada has a strong interest in the evolution of our payments system that goes well beyond our role as purveyor of the simplest form of payment – cash.
On the other hand, while accommodative monetary conditions are maintained in major economies, if a view that such conditions will become protracted more than necessary takes hold, there is a risk that a new type of credit “bubble” might be generated, for example, in emerging economies, and also exert unexpected effects on Japan.