RBNZ to consider CBDC as cash use declines

Assistant governor says trust in financial system may be weakened by fall in cash use

Photo: Rachael King

The Reserve Bank of New Zealand will hold a consultation on central bank digital currency, as part of a wider review into access to central bank money.

Assistant governor Christian Hawkesby said the RBNZ was concerned the public’s access to central bank money had decreased due to a decline in cash usage.

“Knowing that the money held in our bank accounts can be withdrawn in central bank money… is an unspoken promise which helps promote trust in banks and the financial system,” Hawkesby said in

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