Central Banking Benchmarking

Banknote demand forecasts for 2022

In some regions, Covid-19 has accelerated the transition to a cashless society. In others, it has underscored the importance of banknotes and coins to millions of people. Central Banking asked benchmark participants to forecast the percentage change in banknote demand in their jurisdiction for 2022; 19 central banks responded. Almost three-quarters of central banks said cash demand will increase, 21% said it will decrease, and one central bank, a high income country in Europe, predicts it will stay the same. It is vitally important for central banks to forecast banknote demand as it determines not only the number of banknotes that need to be printed, but also the structure of their distribution network.

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