BOE Chief Economist Suggests State-Issued Bitcoin for UK
The Bank of England (BOE) or the central bank of the United Kingdom decided to keep monetary policy unchanged in their rate statement this month, maintaining the current level of interest rates and asset purchases. However, in a recent testimony, BOE Chief Economist Andy Haldane suggested that the U. K. could adopt a state-issued digital currency like bitcoin in order to lessen dependence on cash and monetary policy. Policymakers over at the U. S. Federal Reserve also decided to keep rates on hold last week, although many market participants are counting on an interest rate hike before the....
Related News
The chief economist at the International Monetary Fund (IMF) says that regulation is “absolutely important” for the crypto sector. She added that banning cryptocurrencies, like what India could be considering doing, would pose practical challenges given their decentralized nature. IMF’s Chief Economist on Cryptocurrency and Its Regulation International Monetary Fund (IMF) chief economist Gita Gopinath reportedly discussed cryptocurrency Wednesday at an event organized by the National Council of Applied Economic Research (NCAER). Gopinath is also the IMF’s....
Responding to European Central Bank (ECB) President Christine Lagarde’s recent remarks about bitcoin, the chief economist at investment firm Tressis said what Lagarde implied was “outrageous” and “dangerous” for cryptocurrency regulation. Economist Says Governments Would Be Happy to Implement Strict Crypto Regulations Daniel Lacalle, fund manager and chief economist at Tressis Gestion, commented on Christine Lagarde’s recent remarks about bitcoin and crypto regulation in an interview with NTD Business on Sunday. Tressis Gestion provides investment....
A chief economist at UBS, the largest bank in Switzerland, sees a number of problems with bitcoin. In attempting to answer the question of whether the cryptocurrency defies the zeitgeist, he claims that “bitcoin is denied to those minority groups who have reduced online access.” UBS Chief Economist Sees Multiple Problems With Bitcoin Paul Donovan, Chief Economist of UBS Global Wealth Management, published a weekly update entitled “Does Bitcoin defy the Zeitgeist?” on the UBS website Friday outlining a number of issues he sees with the cryptocurrency. UBS is the....
A chief economist at UBS, the largest bank in Switzerland, says cryptocurrency has a fundamental flaw. Bitcoin’s fixed supply could cause the collapse of its value and spending power, making it unattractive to use as a currency, he claims. A UBS Chief Economist Says Bitcoin’s Fixed Supply Is a ‘Fundamental Flaw’ Paul Donovan, Chief Economist of UBS Global Wealth Management, explained last week why people won’t want to use bitcoin as a currency. UBS is the largest bank in Switzerland. “The debate about bitcoin and other crypto tends to be very passionate.....
In a talk given at the Portadown Chamber of Commerce in Northern Ireland on September 18, Andrew G Haldane, Chief Economist at the Bank of England (BoE), has hinted at the possibility that the U. K. government might issue a digital currency. Though the disclaimer "The views are not necessarily those of the Bank of England or the Monetary Policy Committee" ensures plausible deniability, Haldane's talk seems to indicate that the BoE is at least seriously considering the possibility. Haldane is chief economist at the BoE and executive director of monetary analysis and statistics. Listed by....