Earlier this week, the UK House of Lords Economic Committee met about central bank digital currency (CBDC). Baroness Kramer asked whether the central bank was considering a wholesale CBDC that would not be available to consumers. The response is that the private sector will be able to achieve a similar result themselves.
Bank of England Governor Bailey and Deputy Governor Sir Jon Cunliffe both dismissed the option of a wholesale CBDC at a domestic level.
Bailey highlighted that banks have existing access to central bank money through its real time gross settlement (RTGS) system.
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