Speech by Mr Constantinos Herodotou, Governor of the Central Bank of Cyprus, at the 11th Banking Forum & Fintech EXPO, Nicosia, 7 December 2023.

Global initiative aimed at promoting innovation in scaling sustainable finance and combating climate

Investments strengthening the technological infrastructure

Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type of money substitution by digital money. The paper straddles several cases where substitution of CiC (currency in circulation), and bank deposits may take place via digital money such as CBDC or other e-money, and how it would impact the central bank balance sheet. Remuneration of CBDC, if aligned to a new objective, could potentially amplify the effect on the interest rate channel of monetary policy.

China's Ministry of Finance announced measures on Monday to support the city of Shenzhen, South China's Guangdong Province, to explore innovative fiscal and taxation policies that will facilitate high-quality economic development and technological breakthroughs, and further accommodate its role as a pilot demonstration area of socialism with Chinese characteristics.

DATE : 26/10/2022 08:30 - 27/10/2022 16:30 (PARIS TIME) DURATION: 08:30 - 16:30 (PARIS TIME) LOCATION: EBA PREMISES, PARIS LA DÉFENSE