That said, and notwithstanding strong economic growth and a low unemployment rate, 1/5  BIS central bankers' speeches  inflation has surprised to the downside recently, and it is not yet clear that inflation has moved back to 2 percent on a sustainable basis.
In some jurisdictions, there has already been a pronounced migration from cash to digital payments, which naturally prompts monetary authorities to explore moving to digital issuance of their own. The potential for global stablecoin systems has intensified the interest in central bank digital currencies.