The activities of all central banks are governed by so-called “central bank laws” (which in the case of monetary unions can have the form of a treaty) which prescribe the central bank’s mandate. Consequently, the legal basis for the Eurosystem to issue a digital euro has to be detected in its mandate.
The 3-month CD rate has stayed at around 0.50 - 0.55 per cent. Against the background of uncertainties about future economic growth, the long-term government bond yield had been declining since the end of May and reached the record low of 1.5 - 1.6 per cent at the end of October, but recently rose to 1.6 - 1.8 per cent.