CBDC and bank intermediation in the eurozone
In 2021, the Eurosystem launched an investigation phase of the digital euro project, which aims to provide citizens in the eurozone with access to central bank money in an increasingly digitalised world. While a digital euro could offer a wide range of benefits, it could also alter the transmission of monetary policy, and impact financial stability through changes in the demand for bank deposits and services from private financial entities.
Acknowledging the significant uncertainty surrounding
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