Bank of England: UK Should Ditch Fiat for Digital Currencies
Andy Haldane, the Chief Economist and the Executive Director of Monetary Analysis and Statistics at the Bank of England recently proposed that the UK should switch from a fiat to a digital currency based economy to support the UK’s economic growth. “The balance of risks to UK growth, and to UK inflation at the two-year horizon, is skewed squarely and significantly to the downside,” Haldane told Express U.K. “There could be a need to loosen rather than tighten the monetary reins as a next step to support UK growth and return inflation to target.” He added: “What I think is now reasonably....
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