SNB rejects idea of retail central bank digital currency

SNB board member Andrea Maechler: central bank digital currency could “give rise to incalculable risks”

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

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