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UK banks see threat of digital pound recede as BOE signals change of heart

By Phoebe Seers ( February 12, 2025, 14:29 GMT | Comment) -- Boosterish rhetoric from the Bank of England in recent years about a digital currency for the UK now seems a world away, with the Trump administration in the US blocking a digital dollar and the UK government ratcheting up pressure for pro-growth interventions. "If it is proven that we need it, we should do it, but that question has to be answered,” the central bank's governor Andrew Bailey said. Continuing a wait-and-see approach can help calm a worried banking sector and consumers.Two years ago, Bank of England officials indicated that a digital currency for the UK was all but inevitable. But now that US President Donald Trump has blocked the idea of a digital dollar and there is unrelenting pressure from government on economic growth, the rhetoric on a digital pound has cooled significantly....

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