ICYMI - BoE Dep Gov Cunliffe sees good reasons for the Bank to issue its own digital currency

Author: Eamonn Sheridan | Category: Central Banks

Comments reported Thursday (UK time) from Bank of England Deputy Governor Jon Cunliffe in a speech to the OMFIF central banking think tank.

  • pandemic has accelerated a shift from ‘public’ cash issued by the BoE
  • towards ‘private’ money created by BoE-regulated banks
  • used for online transactions and credit and debit card payments
  • “We may not be there yet, but it looks probable in this country that if we want to retain public money capable of general use, and available to all citizens, the state will need to issue, public digital money” 

Info comes via Reuters 

Only a matter of time.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose