Australia: Closed consultation on White Paper on CBDC project

On 31 October 2022, the public consultation on the White Paper entitled "Australian CBDC Pilot for Digital Finance Innovation" closes. The Reserve Bank and the Digital Finance Cooperative will study the risks and benefits of introducing a central bank digital currency (CBDC). The White Paper outlined the design of the pilot CBDC, including plans of the Reserve Bank to measure the risks and benefits of introducing a CBDC. The stakeholders were invited to submit their comments on the use and operation of CBDC. The Reserve Bank noted that it will publish its report in the middle of 2023.