Broadbent weighs pros and cons of digital currency
Issuing central bank digital currencies could ‘impair’ banks' ability to make loans
Central banks that consider issuing their own digital currency will have to bear in mind the effect it could have on the funding of banks and supply of credit, Ben Broadbent said today.
Speaking at the London School of Economics, the Bank of England (BoE) deputy governor outlined the importance of digital currency innovation, though he said it was "very unlikely" we'll drop pounds, dollars and euros for bitcoins.
Broadbent explained that the macroeconomic impact of central bank digital
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