‘As use of cash decreases, the public’s access to money shifts increasingly away from central bank money to commercial banks, which can fail,’ said Andreas Jobst, chief economist for ROXE and global head of macroeconomic and capital markets research at Allianz. Providing access to a digital equivalent is, therefore, a valuable innovation, since it overcomes the rising opportunity cost of holding cash. But what is meant by ‘digital equivalent’ is not entirely clear.
Banks’ financial inclusion initiatives are too narrow By Michael Kanovitz The term ‘financial inclusion’ is used as a shorthand for lifting people out of poverty. But this insider/outsider rubric can conceal more effective options for combatting poverty.
MEETINGS In conversation with Charles Evans Tuesday 27 September, Broadcast It has been a turbulent year for the US economy, with interest rate hikes and quantitative tightening. Charles Evans, president of the Federal Reserve Bank of Chicago, joins OMFIF for a conversation on the future of the US economy and the path to recovery.
ON DEMAND Benefits and risks of CBDCs in emerging markets Melvin Khomo, general manager for financial markets at the Central Bank of Eswatini, joins Dieter Sauter, general manager of the business unit value printing at Bundesdruckerei, and Lewis McLellan, editor of the Digital Monetary Institute, to discuss what advantages a central bank digital currency can deliver.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.
