“The digital euro will further stimulate innovation and competition in retail payments,” according to the ECB president.
European Central Bank President Christine Lagarde said September’s 3.8% euro area inflation rate largely reflected high energy costs, which the ECB expects to ease next year.
Lagarde said while an energy shock is expected to keep euro-area inflation above the bank’s target through the first half of 2027, a measured policy response remains appropriate, according to a statement delivered at the IMF Annual Meetings on Saturday.
Lagarde added that meanwhile, the ECB is devising a digital euro. “In the retail space we are preparing to complement cash with its digital equivalent — the digital euro — for day-to-day payments. The digital euro will further stimulate innovation and competition in retail payments, ensuring that the continued co-existence of public and private solutions underpins Europe’s strategic autonomy in payments.”
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