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MNI BRIEF: BIS Backs Cross Border Central Bank Currencies

MNI STATE OF PLAY: Inflation Worry Key To BOK Policy Moves
(MNI) London
MNI (lONDON)

The Bank for International Settlements has stepped up its campaign for central banks to press ahead with work on digital currencies, making the case in its latest report for developing versions that can be used for cross-border payments. A BIS survey found that while 25% of central banks are considering allowing non-residents to use CBDC's only 8% are considering allowing their own CBDC to be used in other jurisdictions from the outset.

The BIS makes the case that CBDCs could facilitate cross-border payments and it calls on banks to explore the option, with the BIS taking the view that CBDC's are pretty much an inevitability that should be made as beneficial as possible.

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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