The RBNZ had announced in September last year that it was seeking input from the public on the potential use of a CBDC – which is the digital form of an existing currency.
Several countries are exploring the use of CBDCs, with the U.S. Federal Reserve releasing a much-anticipated paper on the pros and cons of adopting a digital dollar earlier this year.
The RBNZ said feedback from the public had helped affirm the importance of privacy and autonomy when it comes to a CBDC and that this would be a focus of further policy work.
“Our view is that CBDC and cash would be complementary, rather than conflicting,” the central bank said in a statement.
Ian Woolford, the RBNZ’s director of Money and Cash, added that the central bank was particularly focused on progressing concrete steps to improve resilience and efficiency in the cash system.
