Bank of Canada official says coronavirus pandemic-related shifts in how people shop means central banks must speed up work on creating their own digital currencies.COVID-19 has meant more people are shopping online, and foot traffic for brick-and-mortar storefronts hasn’t caught up to pre-pandemic levels for many small and medium-sized businesses.
COMMENTARY: How COVID-19 is changing our relationship with cash Bank of Canada deputy Timothy Lane says that shift in spending habits coupled with the speed of technological developments has narrowed the window to deliver a digital currency issued by the central bank.The comments from an online panel today are a turnaround from late February, just before the pandemic struck, when Lane said there.