Bank of Canada – DIGIT INFO

Canadians wary of adopting digital dollar, Bank of Canada finds

DIGIT — Tue, 29 Oct 2024 08:46:28 +0000

The Bank of Canada’s research revealed mixed views on the digital Canadian dollar and highlighted Canadians’ enduring trust in cash and card payments.

Go to Source

Bank of Canada Redirects Efforts Away From Retail CBDC

DIGIT — Mon, 23 Sep 2024 20:45:48 +0000

The Bank of Canada has announced a strategic shift away from developing a retail Central Bank Digital Currency (CBDC) to focus on broader payments system research and policy development. This decision follows a public consultation in 2023, which revealed significant privacy concerns among Canadians. While the central bank remains open to revisiting the idea of […]

Go to Source

AI may lead to inflationary pressures: Bank of Canada

DIGIT — Sat, 21 Sep 2024 10:08:30 +0000

According to the Bank of Canada’s Governor Tiff Macklem, central banks need to be closely attuned to how AI is affecting inflation, both indirectly through overall demand and supply and directly through price-setting behavior.

Go to Source

Bank of Canada just says no to retail CBDC in reshuffling of priorities

DIGIT — Fri, 20 Sep 2024 21:55:22 +0000

Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.

Go to Source

Pierre Poilievre Backs Bill to Ban Central Bank Digital Currency in Canada

DIGIT — Fri, 16 Aug 2024 02:46:08 +0000

Pierre Poilievre, leader of Canada’s Conservative Party, backs a bill that seeks to ban central bank digital currency (CBDC) in Canada. He argues that a CBDC would give the government excessive control over finances, threatening privacy and economic freedom. “It’s time to put an end to creating a central bank digital currency in Canada,” he […]

Go to Source

BIS inaugurates Toronto Innovation Centre with Bank of Canada

DIGIT — Fri, 14 Jun 2024 08:30:00 +0000

Bank of Canada Governor Tiff Macklem said that as finance evolves, the industry must innovate and apply new skills, allowing Canadians to benefit from advancements.

Go to Source

Canada central bank assesses innovations and challenges of DeFi

DIGIT — Tue, 17 Oct 2023 09:49:14 +0000

The staff note suggested that although the DeFi ecosystem brings a ton of innovations in the financial sector the regulatory challenges and vulnerability limit its potential use in traditional finance.

Go to Source

Central banks will face unfamiliar challenges to achieve CBDC inclusivity, study says

DIGIT — Wed, 04 Oct 2023 21:09:43 +0000

The potential is there, but the difficulties in achieving financial inclusivity are often underestimated, a Bank of Canada study shows.

Go to Source

Canadians have ‘weak incentives’ to use a CBDC: Bank of Canada

DIGIT — Fri, 11 Aug 2023 05:07:58 +0000

A central bank discussion paper found that the majority of Canadians have little trouble accessing financial services, which gives them little reason to use a CBDC.

Go to Source

Canadian crypto ownership declined amid tight regulations, falling prices

DIGIT — Fri, 04 Aug 2023 08:32:00 +0000

The biggest motivation for Canadians interested in Bitcoin is an investment — as showcased by the choice of over one-third of the 4,996 respondents in the Bank of Canada’s 2022 survey.

Go to Source