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Central bank money in the 21st century

· Joachim Nagel, President of the Deutsche Bundesbank (Germany)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, payments, digital money and crypto-assets, technology, ai and cyber risk

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· Joachim Nagel Wiki · Deutsche Bundesbank WikiCentral bank money in the 21st century

ContextSpeech at the DZ Bank Capital Markets Conference 2024 in Berlin; the Bundesbank is Germany's central bank within the euro system and studies the future of central bank money.

Why it mattersNagel warns against a run of automatic rate cuts and backs the digital euro.

Problems raised
  1. Services inflation remains high.
  2. Private payment providers lack trust.
  3. Central bank money must stay relevant.
Solutions proposed
  1. Avoid a series of automatic rate cuts.
  2. Offer central bank money for the 21st century.
  3. Develop the digital euro.
Read full speech on bis.org ↗

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