provide euro area citizens with access to central bank money in an increasingly digitalised world. While a digital euro could … offer a wide range of benefits, it could prompt changes in the demand for bank deposits and services from private financial … entities (ECB, 2020a), with knock-on consequences for bank lending and resilience. By inducing bank disintermediation, a …

Even before their deployment in major economies, one of the concerns that has been voiced about central bank digital … currency (CBDC) is that it might be too successful and lead to bank disintermediation, which could intensify further in the …

Bank (ECB). Both areas of analysis have evolved since the 2003 strategy review. Economic analysis has assigned an …

"automatic stabilisers" and work alongside the central bank. …

This paper examines the importance of central bank communication in ensuring the effectiveness of monetary policy and … same time overcoming the challenge posed by the wider public’s rational inattention. Since the European Central Bank was …

This paper offers an overview of the mandate of the European Central Bank (ECB), as defined by its objectives, the …

This paper discusses commercial banks’ demand for central bank reserves under two alternative monetary policy framework …