BoE’s Bailey says CBDCs could be ‘fundamental’

Bank of England and Stock Exchange
Rachael King

Central bank digital currencies (CBDCs) could fundamentally change finance, Bank of England governor Andrew Bailey said.

Speaking at the launch of the Bank for International Settlements’ London innovation hub today (June 11), Andrew Bailey said he was “encouraged” central banks were starting “to get to grips” with this “critical innovation”.

“If this comes to pass, it will be one of the most fundamental innovations in the history of central banking,” he said. “It will move us into a new era.”

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