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Thursday

26 November 2020

BoE policymaker says digital currencies could be part of ‘new monetary order’

BoE policymaker says digital currencies could be part of ‘new monetary order’


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The 19-page transcript, titled “Seizing the Opportunities from Digital Finance,” delves into various topics related to digital currencies and their impact on financial stability and monetary policy.

On the monetary policy side, the central banker believes a digital currency could mitigate or possibly even negate the prevalence of negative interest rates.

Negative interest rates are an unconventional policy tool pushed by central banks to encourage financial institutions to lend money rather than hoard it in reserve.

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