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BOE prepares for digital pound in case commercial banks fail to innovate

( October 26, 2024, 17:00 GMT | Official Statement) -- MLex Summary: The Bank of England continues to consider the introduction of a digital pound as commercial banks might not keep up with innovation trends in the payments' landscape, the bank's governor said today. "Absent innovation in commercial bank money, central banks may be left as the only game in town insofar as retail payments innovation is concerned. That is not my preferred outcome, but not one that we should rule out," Andrew Bailey said at an event in Washington. Speech is attached....

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