ECB President Christine Lagarde said her “hunch” was that digital currency” will come”. Nevertheless, “We’re not racing to be first… We are moving ahead diligently, not incautiously. We will be prudent.”
“If it’s cheaper, faster, more secure for the users then we should explore it. If it’s going to contribute to a better monetary sovereignty, a better autonomy for the euro area, I think we should explore it,” she added.
ECB launched a public consultation on digital currencies last month. Policy makers would decide around mid-2021 on whether to initiate a full-fledged project. Lagarde added that it might take two to four years before digital currency could be launched.
