 As for financial inclusion, even though in principle it should be favored by the introduction of CBDCs, there may be instances in which remaining  6  Monetary policy rates are bound below at zero because agents can circumvent rates lower than that by holding non-interest bearing cash.
In economies with a low use of cash and an unrestricted utilization of CBDCs, interest-bearing CBDCs can set the bound on monetary policy rates lower. For a more detailed discussion, see Mancini-Griffoli, T. et al. (2018): “Casting Light on Central Bank Digital Currency”, IMF Staff Discussion Note No. 18/08, November.