Chart 9  Inflation Expectations Contribution of Adaptive Component to Inflation Expectations  Synthetic Indicator of Inflation Expectations 2.0  y/y % chg. Beginning of a downtrend in Destabilization of financial crude oil markets amid Consumption prices concern about tax hike emerging Introduction of QQE economies  1.8 1.6  ▼ ▼▼  1.4  1.0 More adaptive 0.8  ▼  0.6 1.2 1.0 0.4 0.8 0.6 0.4 0.2 CY07  0.2 Synthetic indicator of firms', households', and economists' inflation expectations 0.0 08  09  10  11  12  13  14  15  16  Japan  U.S.  Euro area  U.K.
The Reserve Bank guidance on limiting customer liability in unauthorised electronic banking transactions targets this perspective3. More important than compensation, however, should be on ‘prevention’ through awareness initiatives. This would also help minimise complaint origination at the bank/FSP level and reduce complaint clogging at the Ombudsman level.