May 11, 2020 / 11:04 AM / 17 days ago

ECB sees no "business case" for digital currency yet: Mersch

FILE PHOTO: A man walks towards the European Central Bank (ECB) headquarters in Frankfurt, Germany, July 25, 2019. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank currently sees no “business case” for launching its own digital currency but is looking at how one would work should that change, ECB board member Yves Mersch said on Monday.

“The lack of a concrete ‘business case’ for a CBDC (Central Bank Digital Currency) at present should and does not stop us from seriously exploring the optimal design of a CBDC so that we will be well prepared should we ever take (that) policy decision,” Mersch told a virtual conference.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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