The Governor of the Bank of England, Mark Carney, expressed his readiness to support the idea of creating a state digital currency (CBDC), reports Bloomberg.
These words of the head of the Bank of England were made on Friday at the jubilee conference of the Central Bank of Sweden (Riksbank) in Stockholm, timed to celebrate the 350th anniversary of the organization.
At the same time, Carney noted that although he does not object to the idea of implementing the CBDC, it is unlikely that this will happen in the near future. He also added that cryptocurrencies are not currently considered money.
According to Carney, the “past, present and future” of central banks depends on maintaining public confidence in the financial system. Additionally, he noted that, starting with Brexit, the Bank of England revised its financial system, making it more resilient to the shocks that may follow events like the UK’s exit from the EU.
On the possibility of the central bank supported by the digital currency, Mark Carney said earlier, noting at the end of last year that the Bank of England had already negotiated with other central banks regarding the prospects for such an initiative. He also said that the technology of the distributed registry can favorably affect financial stability and improve the efficiency of interbank settlements.
Nevertheless, Mark Carney continues to be skeptical about bitcoin and other cryptocurrencies. In March of this year, he noted the “extreme volatility” of the cryptocurrency, which, he said, indicates the absence of any internal value or external support.
Earlier in May, it was reported that the possibility of introducing its own digital currency as a supplement to cash is considered by the Central Bank of Norway.