A Central Bank Digital Currency for the Euro Area?

Central banks around the world are exploring the case for a central bank digital currency (CBDC) – essentially a digital version of cash. In the same manner as cash, a CBDC would allow citizens to directly hold central bank money but in a digital format. In the first of the IIEA’s mini-series of webinars exploring the future of CBDCs, Dr Katrin Assenmacher, Head of the Monetary Policy Strategy Division of the European Central Bank (ECB), outlines the economic forces that shape the rise of digital money and motivate the current debate. Dr Assenmacher also looks at the implications of a ‘digital euro’ for monetary policy and financial stability before discussing policy issues and challenges. About the Speaker: Katrin Assenmacher has been Head of the Monetary Policy Strategy Division at the European Central Bank (ECB) since November 2016. From 2010 to 2016 she led the Monetary Policy Analysis unit at the Swiss National Bank (SNB). She has published various articles in international academic journals in the areas of monetary policy and time-series econometrics. Dr Assenmacher holds a Doctorate and a Diploma in economics from the University of Bonn, where she also received her Habilitation.