‘Digital sterling’ could bring benefits but would reshape banking – BoE’s Broadbent

Ben Broadbent. Photo: BoE
Bank of England

A central bank-issued digital currency could bring significant benefits but could also entail a redesign of the banking system, Bank of England (BoE) deputy governor Ben Broadbent said on July 19.

"Digital sterling" could cut transaction costs and boost growth, as well as giving the BoE a new monetary policy tool – ideas set out in a recent BoE staff working paper by John Barrdear and Michael Kumhof. But it could also have a major impact on bank funding models, Broadbent said.

One potential

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: