The possible decision by the Governing Council to issue a digital euro would be taken only after the legislative act has been adopted. We will take all the necessary measures to ensure that the digital euro would act as a true public good. But all European institutions have to play their part to achieve our common goal of making the digital euro a success.
In the light of these observations, there is no reason to change our strategy. Some economists argue that low rates are contributing to speculative bubbles forming, in particular in the housing market. Are they wrong? 2/4  BIS central bankers' speeches  We monitor financial stability very closely. Our assessment is that there are currently no bubbles at euro area level.