MNI POLICY: ECB Add Non-MonPol Meeting To Discuss Digital Euro

The Governing Council of the European Central Bank will hold an additional non-monetary policy meeting virtually Wednesday, when it will likel discuss the future of the digital euro. The ECB has previously said it expects the investigation phase of the digital euro project -- begun in 2021 -- to end in autumn 2023.

ECB Executive Board member Fabio Panetta told members of the European Parliament members on Sept 4 the investigation phase "is now in its final stage, preparing the ground for the Governing Council to decide whether to move to the next phase of the project."

The next step will likely involve developing and testing technical solutions to creating a European central bank digital currency. The European Commission presented a draft legislative proposal for a possible digital euro in June this year.