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Banks, businesses see Bank of England still undecided on digital pound

By Phoebe Seers ( January 14, 2025, 15:01 GMT | Insight) -- The Bank of England suggested today that a decision on whether to proceed with a digital pound is still two years away. In an update today, the UK’s central bank said a decision would only be made after completion of the design phase “over the next couple of years.” The BOE's language around the project has cooled slightly since 2023 when it said it was “likely” a digital pound will be needed in the future. The Bank of England is still undecided on whether to proceed with a UK central bank digital currency, or a digital pound. In an update today, the UK’s central bank said a decision would only be made after completion of the design phase “over the next couple of years.” The BOE has cooled slightly on earlier rhetoric since 2023 when it said it is “likely” a digital pound will be needed in the future (see here). ...

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