The Swiss National Bank has come out against the idea of creating a central bank digital currency that would be accessible to the general public.
Andrea Maechler, a member of the SNB’s governing board, set out the bank’s stance in a speech on April 5, saying such a currency “would give rise to incalculable risks with regard to financial stability”. By offering people an easy route to flee to safety, a central bank digital currency could add to the threat of bank runs.
“Instead of operating as
- A route to economic growth – The Belt and Road Initiative 2018 survey
- ECB will ‘accelerate efforts’ to tackle staff concerns after second survey
- After the Congress – Interpreting China’s new development concept
- Asian Infrastructure Investment Bank – Raising expectations
- Do not discount central bank digital currency yet – Lagarde