Moreover, it was  BIS Review 105/2008  3  unclear what implications the – possibly temporarily – high market interest rates (and rising spreads between market and policy rates) would have for spending and pricing decisions and the availability of credit.
I will then go on to discuss a number of policy issues arising from these changes. The way we pay has been changing … Over the past couple of decades, the way Australians make payments has followed a fairly consistent trend. The main feature of this trend has been the decline in ‘paper’ payment instruments and the rise of electronic payment instruments (Graph 1).