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Comment: BOE’s failure to show digital pound benefits sets stage for an awkward reckoning

By Phoebe Seers ( June 30, 2023, 12:01 GMT | Comment) -- Having failed to articulate how a digital pound will bring tangible benefits, the UK’s central bank has got neither commercial banks nor consumers on board. Among tens of thousands of responses to a consultation that closes today will be a cascade of objections to its plan. Nevertheless, it is is near-inevitable that it will move onto the next phase of the project, so it faces a pressing need to win its critics over. The Bank of England faces having to sift through tens of thousands of responses to its proposal for a digital pound, with most cautioning against the idea — and it will then, almost inevitably, commit to the next phase of the project. ...

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