  Since Lehman Brothers’ collapse, the real interest rate in the short-term money market has been hovering around zero. 2. Major policy tasks  Enhancing macro-prudential soundness Spurred on by the financial crisis, a lively debate has sprung up about whether central banks should play an active role not just in maintaining price stability but also financial stability.
The pressing demands of the growing financial sector and increasing cross-border transactions poses new and complex challenges to the current payment system infrastructure. The need for a more dynamic, flexible and business-friendly payment system capable of better resisting systemic shocks and providing for international exposure is increasingly felt.