A senior official at the Reserve Bank of Australia said the central bank has been “wrestling” with the question of why Australia would need a central bank digital currency (CBDC).

Brad Jones, assistant governor, made the remark at an event in Sydney today (March 1), while also outlining the central bank’s plan to run a CBDC pilot in April.

Jones said the launch of a CBDC could facilitate bank runs if people could move their bank deposits into their CBDC accounts without limit during stressed