However, these challenges are not new to us. The central bank’s responsibilities and ability to maintain monetary and financial stability will basically be maintained, regardless of the kinds of changes that take place in the environment surrounding payment services and money as IT innovations advance. What Will Change By contrast, how will the payment and settlement systems evolve along with IT innovations?
Now, I would like to touch upon three things that will change, and which will be relevant to my later remarks. First, cashless payments will steadily expand in retail payments. In fact, the outstanding amount of cash in circulation has been increasing in major advanced economies, except in special cases such as Sweden.