Europe can learn from UK's decimal currency switch
UK - The conversion to a decimal currency in Britain in 1971 may have lessons for the introduction of euro notes and coins in January next year.
The introduction of decimalisation in Britain in 1971 was not greeted with universal acclaim, reports the Financial Times, 20 June.
In the words of one aggrieved woman at the time who found her standards of value thrown out of kilter when decimal money was brought in:
"Why couldn't they have waited to do this until all the old folk were dead?"
Noel
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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Pan: PBoC will continue ‘supportive’ policy next year
Central bank also expands M1 definition as governor Pan Gongsheng signals continued stimulus
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
CBSL chief returned from retirement to secure structural reforms, recapitalisation and financial resilience
‘Financial conditions targeting’ could help stabilise output – paper
“Risk-centric” New Keynesian model highlights benefit of acting on financial conditions
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
BoK makes surprise 25bp cut to base rate
Majority of monetary policy board decides risks to growth warrant loosening in policy
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
RBNZ delivers third consecutive rate cut
Central bank signals further easing early next year as inflation returns to target band
Nigeria tightens policy further as inflation continues to rise
Central bank raises rates by 25bp as annual headline inflation exceeds 33%