Innovate to defend status of central bank money, says BoE
Bank “exploring options” to widen access to settlement
The Bank of England (BoE) plans to step up its innovation in the field of payments to defend the widespread use of central bank money and avoid possible instability.
The bank set out its thinking today (July 30) in a discussion paper in which it takes stock of the rapid pace of development in payments.
“The speed at which certain markets and activities become systemic may at times outpace the ability of policy-makers to build infrastructures and frameworks to respond,” governor Andrew Bailey
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