Yesterday
Bloomberg reported that policymakers at the European Central Bank (ECB) will today discuss the creation of a Central Bank Digital Currency (CBDC) or digital Euro. That’s ahead of a formal policy meeting tomorrow under new ECB head Christine Lagarde who has moved over from the IMF.
There is no expectation of an imminent decision.
We previously wrote about the
ECB’s experiments with CBDC to date, and ECB comments that it was hard to find a strong motivation for a digital Euro. Recently, the bank made a statement to parliament outlining the issues relating to
a digital currency future. We also noted the likely impact of Lagarde taking the helm at the bank.
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