Central Banking

BoE research says digital currency would ‘strengthen’ policy transmission

Bank of England and Stock Exchange
Rachael King

A research paper published by the Bank of England says a central bank digital currency (CBDC) is likely to “strengthen” monetary policy transmission rather than weaken it.

As part of their analysis into a CBDC’s impact on monetary policy, Jack Meaning, Ben Dyson, James Barker and Emily Clayton offer a general definition of the instrument to make the “concept accessible to a wide range of economists and policy practitioners”.

“Central bank digital currency is any electronic, fiat liability of a

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