As the RBNZ mulls developing a central bank digital currency, the NZ Bankers’ Association queries what public policy problem one would address

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“We note that some central banks, most notably the Federal Reserve, have suggested that CBDC’s may be a ‘solution looking for a problem,’ and that even where there are problems in the payment system, there are more effective means to resolve them than a CBDC,” NZBA said.

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