Bank of Canada ‘contingency planning’ in case public digital currency becomes necessary, official says

The Bank of Canada doesn’t currently have cause to issue a digital currency, but it can envision a future where it may need to be ready to do so, an official from the central bank suggested on Friday. Deputy governor Timothy Lane said during an event at the Federal Reserve Bank of Philadelphia that the Bank of Canada has conducted research over the past few years about whether the central bank should try to create a digital currency. “I think the conclusion when we think about it is that we…