The report deepens the analysis of the implications of prepaid cards conducted by the EMI in 1994 and extends it to new forms of electronic money, i.e. software-based electronic money products which have since started to evolve.
We need to be careful about an inflation spiral. However, as noted earlier, anecdotal evidence suggests that the incidence of lay-offs in the construction and services sector is increasing. As a practical matter, if layoffs and unemployment continue to rise, both the fiscal and monetary stance may need to be revisited and the pace of inflation reduction may need to be re-considered.