African central banks expect CBDC to boost policy transmission

Central Bank of Nigeria
The Central Bank of Nigeria, the first African central bank to issue a retail CBDC
Photo: Wikimedia/Commons/Godwin Paya

Central banks in Africa are more focused on the potential benefits of central bank digital currency (CBDC) for monetary transmission than their peers on other continents, a new survey finds.

Almost all of the 19 African central banks that responded to the Bank for International Settlements’ survey said they expected CBDC to boost policy transmission. Around 20% expected a “significant” impact.

The BIS said this was “much more” than respondents among emerging market economies (EMEs) more

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