Bailey calls for 'public debate' on digital pound introduction

A 'major step'

Andrew Bailey, the governor of the Bank of England, has said the introduction of a retail CBDC (central bank digital currency) would be a “major step", adding that there "should be a public debate about the future of money in the UK”.

Speaking at the Financial and Professional Services dinner yesterday (10 July), he said the case for a retail CBDC was being explored and that a CBDC Taskforce was being jointly lead with the Treasury.  "This is important work, and we are keen to hear views and engage widely throughout the project," he said. "We have recently concluded a public consultation which has, for us, attracted a record number of responses - over 50,000." IW Summit: Digital assets represent 'future of finance' despite shortcomings Bailey explained that from the Bank of England's perspective, the main mo...