Bank of Canada Deputy Gov. Tim Lane speaks on digital currency
The Bank of Canada's Deputy Gov. Tim Lane is on the wires speaking on digital currency. He makes no comment on Canada interest rate policy. For what it is worth he says:
- Canadians well served by existing payment ecosystem
- sees no need to issue digital currency at this time
- would still need legislative authority to issue CBDC
- could be scenarios that make Bank of Canada digital currency useful
- Bank of Canada must be ready in case digital currency as needed
No market moving news here.