BOJ: Crypto will not improve monetary policies
The executive Masayoshi Amamiya indicated that the new financial trends would not bring a meaningful change, as his entity will not issue a digital asset
Masayoshi Amamiya, vice president of the Bank of Japan (BOJ), recently said he does not consider cryptocurrencies will improve the effectiveness of monetary policies.
According to the New York Times, the Asian executive also stressed that the BOJ does not propose the issuance of a digital asset.
Amamiya argued that he does not believe that digital currencies of central banks (MDBC) become a tool for the control of the economy by these financial entities, after a hypothetical fall in interest rates to zero.
“For central banks to overcome the lower zero limit of nominal interest rates, they would have to get rid of society’s cash,” Amamiya said in a speech delivered from a meeting held in Nagoya, Japan.
Nevertheless, the executive ruled out that the archipelago will not eliminate cash, since it is still widely used by the population despite economic trends.
K. Tovar
Source: New York Times
Receive this and all our information directly on your cell phone through our channel on Telegram:https://t.me/
