Monetary Policy

Leo Kriese

Chapter Chapter 9 in Central Bank Digital Currency, 2023, pp 189-205 from Springer

Abstract: Abstract This chapter enquires the relation of central bank digital currency and monetary policy. First, it presents how monetary policy normally functions. Then, it examines how central bank digital currency can be linked to that. Here, the chapter pays special attention to the impact of CBDC on the monetary policy transmission. In addition, it focuses on the highly debated topic of remunerating holdings, in particular using negative interest rates. The chapter links that to the fundamental right to property under Article 17 of the European Charta of Fundamental Rights. Furthermore, the chapter examines whether CBDC can be seen as a new tool of monetary policy.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-44738-9_9

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DOI: 10.1007/978-3-031-44738-9_9

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