Podcasts Other The Mike Hosking Breakfast Ian Woolford: Reserve Bank Director of Money and Cash on the possibility of a government-backed digital currency

Ian Woolford: Reserve Bank Director of Money and Cash on the possibility of a government-backed digital currency

Published: April 16, 2024, 8:32 p.m.

The Reserve Bank's opened consultation on the possibility of a government-backed digital currency. \xa0

The central bank is currently researching such an option. \xa0

It would be used alongside physical cash. \xa0

Director of Money and Cash Ian Woolford told Mike Hosking\xa0their view is that there's not enough innovation and efficiency in the financial system. \xa0

He says they hope a central bank digital cash will spur this.\xa0

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