Digital currency
Podcast: an update on the e-naira project
Bitt’s Imran Khan explains how its project in Nigeria is different to CBDC projects launched before
Book notes: Shades of sovereignty, by Paul Wilson
An essential and stimulating read for central bankers thinking about the monetary history of their state in relation to its historical perspective and broad international trends
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Chinese governor says CBDC must balance privacy and anti-crime measures
Yi says PBoC will collect “minimum amount of information” as police report first CBDC-related arrests
RBA stepping up CBDC research despite scepticism over use
Australian central bank is concerned private sector firms could dominate payments sector
People: RBNZ chief economist to leave after 25 years
ECB appoints lead for digital euro project and new director for banknote department
No UK central bank digital currency before 2025, BoE says
A 2022 consultation will determine if CBDC should enter “development” phase
Global CBDC network could save multinationals nearly $100bn
Payments system could eliminate delays and need for multiple correspondent banks
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
Fed’s Quarles says there is no case for a US CBDC
Central banks should not waste resource or risk “significant disruption” to the banking system
Podcast: reflecting on CBDC issuance in the Caribbean
Co-founder of Bitt, Simon Chantry: the ECCB is ready for issuance of central bank digital currency
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
G7 says retail CBDC networks should be carbon neutral
Group of Seven outlines 13 retail CBDC principles in new report
Time to ‘future-proof’ central banks – Sibos panel
Central bankers prepare for CBDC issuance as stablecoin threat eases
Summers: digital yuan unlikely to threaten US dollar
Traceability of Chinese CBDC amid “financial thunderbolts” from Beijing may limit appeal, says former top US economics policy-maker
Covid-19 has accelerated paradoxical developments in cash usage
Antti Heinonen explores the unusual patterns in banknote demand in 2020 and draws lessons for the future
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
Trust essential to success of global CBDC usage, panellists argue
CBDCs are yet to prove they offer advantages over private sector initiatives, say speakers at Bank of Italy event
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Turkey raises banks’ gold and FX reserve levels
Central bank announces work with state-owned organisations on prototype CBDC
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
BIS to work on cross-border CBDC test with four central banks
Australia, Singapore, South Africa and Malaysia will help create shared DLT platforms