ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

The case for getting rid of high-denomination bank notes

Softer cashless route would hinder criminals, crack interest rate constraints

| China
Talk of abolishing large-denomination bank notes largely centers on preventing criminals from hoarding cash.   © Reuters

I previously discussed the merits of going cashless to enable central banks, including the Bank of Japan, to set interest rates at more negative levels. While that may not happen any time soon, eliminating large denomination paper currency notes -- a "soft" version of eliminating paper currency altogether -- is a more realistic prospect.

Pros and cons

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more