Russian Banks Say Digital Ruble Will Drive up Loan Rates – New CBDC Dangers?

A major Russian banking association has warned that the digital ruble will drive up loan rates as banks struggle to cope with the soon-to-be-issued CBDC.
The Central Bank last month launched an 11-city “real-world” CBDC pilot in conjunction with 13 commercial banks.
But banking organizations have already expressed “concern” about the project, and the Central Bank was rocked by the eleventh-hour withdrawals of heavyweights Sberbank and Tinkoff Bank....
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