Central Banking

Digital currency could remove need for positive inflation target, economists argue


Two economists have proposed a new framework for issuing central bank digital currency (CBDC) which they believe would render positive inflation targets redundant.

Published at The Structural Foundations of Monetary Police: A Policy Conference this month, the paper considers how CBDC could transform the monetary system while facilitating the “systematic and transparent” conduct of monetary policy.

“We find a compelling rationale for establishing a CBDC that serves as a stable unit of account

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