Advances on the digitalisation front have also sparked a debate surrounding digital currency. July saw the Eurosystem launch a two-year investigation phase on the introduction of a digital euro. This digital currency could be implemented alongside commercial banks’ book money as failsafe, universally accepted central bank money.
In addition, the Bangko Sentral engages in a variety of informal interactions with the other branches of government through appearances in committee hearings in both houses of Congress and its participation in various government inter-agency committees and working groups. In other words, we invest time and resources to communicate our policies and programs with other branches of government. IV.