Norway extends study of digital central bank currency

“A decline in cash usage has prompted us to think about whether at some future date a number of new attributes that are important for ensuring an efficient and robust payment system and confidence in the monetary system will be needed,” Norges Bank Governor Oeystein Olsen wrote in a working paper. “It is too early to conclude whether Norges Bank should take the initiative in introducing a CBDC ... On the other hand, the working group has not identified issues allowing it to conclude at present that introducing a CBDC can be ruled out.” An underlying premise for the central bank’s work is that the existence and scope of a CBDC must not impair the ability of banks and other financial institutions to provide credit, the central bank said. - Reuters -



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