Developments in digital finance will reshape monetary policy implementation and central bank services
To ensure that the steering of money market interest rates remains effective in an ever more digital world, it is essential that central bank money continues to be an anchor for the financial markets. This requires TARGET Services that adapt to changing times, monetary policy instruments that are flexible, and a collateral framework that takes account of innovations.
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Significant differences across industries and regions in the costs of processing cash
Acceptance of cash as a means of payment is still important in the Finnish retail trade. The acceptance of cash in shops and various services ensures, in particular, the transactions of customers who do not have access to electronic means of payment or do not want to use them. It also ensures that consumers can pay for their purchases also when electronic payment systems are not available.
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What should be done to improve the autonomy of European retail payments?
Europe needs its own means of retail payment and more competition. Whereas domestic payment solutions have emerged in Europe, in Finland payment is almost entirely dependent on international card payments.
