The current QQE is expected to have more powerful policy effects than the previous QE, given the significant expansion of the Bank’s balance sheet, the extension of duration on the asset side, the introduction of a clear price stability target, and the forward guidance broadly linked to the target.
With this system, disenfranchisement will be a thing of the past, with the number of “unbanked” citizens shrinking faster and with more certainty. Individual biometric identification will give each one a voice to be recognized, to be heard and to participate in economic growth and development. We are also continuously creating a more enabling regulatory environment for the development of fin-tech and digital finance.