Cash use is declining in New Zealand—nonetheless, the country’s central bank says it has no plans to launch its own digital currency in the near future.Christian Hawkesby, the assistant governor of the Reserve Bank of New Zealand, told a conference on Oct. 19 that a central bank digital currency (CBDC) won’t be released imminently.
However, he stressed the country is “well connected” on the matter and continues to monitor developments closely. In other words, New Zealand wants another country to jump in first.“We acknowledge there is much work to be done,” Hawkesby told the Royal Numismatic Society of New Zealand’s conference. “We do not yet have all the answers, nor do we expect to find them alone. However, by working together with New Zealand we want to be ‘on the money’ now and in the future.”