MNI BRIEF: BOJ To Begin CBDC Experiment in Spring, says Kuroda

The advent of the digital society is creating significant change in the way central banks provide money, and the Bank of Japan is taking an opportunity to carefully consider its response to these changes, Bank of Japan Governor Haruhiko Kuroda said on Tuesday.

Speaking at the Fin/Sum 2021, Kuroda said: "While there is no change in the Bank's stance that it currently has no plan to issue CBDC, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems, we consider it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner."

"Central banks share the view that it is not an appropriate policy response to start considering CBDC only when the need to issue CBDC arises in the future," Kuroda said.

The BOJ has been preparing a CBDC experiment which is scheduled to begin in spring this year.