Bank of England’s Cunliffe sees case for BoE digital currency By Reuters

LONDON (Reuters) – Bank of England Deputy Governor Jon Cunliffe said on Thursday he could see a good case for the BoE to issue its own digital currency, though no decision has been reached yet.

Cunliffe said the coronavirus pandemic had accelerated a shift away from cash issued by the BoE and in favour of ‘private’ money created by banks which the BoE regulates.

“We may not be there yet, but it looks probable in this country that if we want to retain public money capable of general use, and available to all citizens, the state will need to issue, public digital money,” he said in a speech to the OMFIF central banking think tank.