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