Bank of England sees CBDC easing the way to negative rates on cash

As the rest of the world’s central banks try to catch up with China, one can only wonder about the potential of programmable money.

It could be the most important speech of the year from a central banker.

Andrew Haldane, chief economist and member of the monetary policy committee of the Bank of England (BoE), spoke on Wednesday at TheCityUK conference about opportunities in digital finance.

He had lots to say about long-overdue innovation in payments and SME lending, all of it well argued, none of it particularly new.

The key moment came when he briefly turned to central bank digital currency (CBDC).

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