At this stage, the focus lies on aspects such as: possible use cases involving consumers, businesses, as well as potentially the government and machines (the aforementioned car payments are only one example); functionalities and design choices; technical infrastructures; here earlier technical experiments already have demonstrated that from a technical perspective there would be no hurdles both for account-based and tokenbased systems; but also interdependencies with the market and the business options for intermediaries.
Or, alternatively, has monetary policy gained effectiveness in times of almost perfect capital mobility and floating exchange rates, in line with the IS/LM paradigm, as recently stressed by central bank colleagues?