A Norwegian expert committee has suggested that there is no urgent need to introduce a central bank digital currency (CBDC) at the present time. Although the use of cash has decreased, accounting for only 2% of transactions at physical points of sale during the pandemic, the committee has highlighted the importance of cash for secure and inclusive payments.
They have recommended starting work on exploring the potential benefits and risks of CBDCs to ensure that any future decisions are well-informed and based on a comprehensive understanding of the implications.
