Central bank digital currencies could aid policy transmission – BIS

Benoît Cœuré
Benoît Cœuré: further work is needed to understand whether there are benefits

Digital currencies issued by central banks could improve the transmission of monetary policy, according to a report published by the Bank for International Settlements. But such instruments could pose significant financial stability risks.

In its inaugural report on central bank digital currencies, the BIS’s Committee on Payments and Market Infrastructures (CPMI) and Markets Committee analyse the potential impact of CBDCs on various sectors of the financial system. 

“CBDC raises old questions

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