Mark Carney: it would ‘make sense’ to get rid of UK penny
“What’s the point of the penny?” – children quiz BoE governor
The governor of the Bank of England (BoE) has said it would "make sense" to get rid of the one-pence coin – or penny – in the future as inflation rises to the bank's 2% target.
Answering questions from schoolchildren on September 16, Mark Carney was quizzed on why the coin still circulates, given its low purchasing power.
"I will say that, in a number of other countries, because the penny isn't used very frequently – and, to be honest, I rarely see them myself – they have done away with the
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