CENTRAL BANK DIGITAL CURRENCY AND THE REFLECTIONS ON MONETARY POLICY

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In recent years, digital money, which has emerged and became widespread under the leadership of private sector, has begun to replace physical money. In the result of this phenomenon, central banks are conducting intensive research and evaluations to launch their official digital currency. Undoubtedly, a digital currency to be created by central banks will have an impact on many areas of the economy, particularly central banking. The aim of this study is to introduce central bank digital currency and to reveal the possible effects of a central bank digital currency. For this purpose, descriptive analysis method has been adopted in the study. It is thought that the central bank digital money can be used as a monetary policy tool in case of interest payment and may increase the effectiveness of monetary policy. But, it may adversely affect financial stability due to the uncertainties which it will create.

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Central Bank Digital Currency , Cryptocurrency , Monetary Policy

Abant Sosyal Bilimler Dergisi

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Abant Sosyal Bilimler Dergisi