Together with five other central banks and the Bank for International Settlements, we will share experiences in this area and assess the potential cross-border use of such digital currencies. We also have to gear up on climate change – and not only because we care as citizens of this world. Like digitalisation, climate change affects the context in which central banks operate.
The propagation of a rate cut in negative territory was therefore materially stronger along the yield curve than for a conventional rate cut, which typically has very little impact on longer maturities.