ECB President: Digital Euro Nears Launch, Eurozone Economy Remains Resilient

Odaily reports: European Central Bank (ECB) President Christine Lagarde stated that the eurozone's September inflation rate stood at 3.8%, primarily driven by high energy costs, and the ECB expects related pressures to ease next year.

She noted that the energy shock may keep eurozone inflation above the ECB's target through the first half of 2027, but a prudent policy response remains appropriate at this time.

Christine Lagarde said the ECB is preparing a digital euro for everyday retail payments as a digital complement to cash. She noted that the digital euro will further promote innovation and competition in the retail payments sector.

The ECB has launched Pontes, allowing financial institutions to settle wholesale tokenized asset transactions using central bank money; the system initially offers core services and is expected to be fully implemented by 2028. (Cointelegraph)