Bank of England Governor Andrew Bailey It is said that “essential” digital improvement of retail banking Payment Should be priority.
In its annual Mansion Dinner Speech, Mr. Bailey said UK Digital capacity needs to be exploited technology For retail payment “both within the UK and internationally to help in the infrastructure of future proof payment and to ensure that it can play its role in increasing the growth in the UK.
But he added a dose of suspicion on any plan for digital pound,
While he reiterated concerns over the so -called stabelines (a type of one type) cryptocurrency Which is supported by a traditional property such as a currency or object), he said that in the future, he could “have a role well”.
Mr. Bailey said: “There is an immediate need for this innovation Now in the field of payment, and there is an opportunity, there is no doubt about it. ,
He said that “UK Retail Payments would” cooperate with the bank officials and industry to design and distribute the next generation of the infrastructure.
“It should be a priority, as part of changing the infrastructure of both aging and promoting development in the UK,” he said, resonating the reforms of financial services mentioned by Chancellor Rahel reeves On Tuesday to help promote the economy.
Mr. Belly said: “There may be a good role for Stabelin to grow forward, but I do not see them as an alternative to commercial bank money.
“In addition, our job will be to ensure that the stabelin is safe to have money.
“Perhaps the retail central bank can also have a role for digital currency, but I am sure why the natural next step has to create a new look of money rather than retail payments and digital technology in bank accounts.”
A few days after his comments, he warned the global banking giants against the release of his own stabecoin, stating that he threatened to withdraw money from the banking system and hence is less available for borrowings.
Mr. Belly also appeared to cool down the idea of a digital pound in recent months, doubting whether it would be officially launched at any time.
In his speech, Mr. Belly warned on the ongoing influence of the global trade war, marked the “most sudden and fundamental in the post -war era” with current changes in policy.
He said, “The changes we have seen – and the witness has continued – marks a generational change in the system of trade between nations,” he said.
“Increased tariffs pose a risk of fragmentation Global economyAnd thus reduced the activity, ”he said.
“Recent events have exposed mistake lines in the multilateral system of relations between nations, including the global trade system,” he said.
They said International Monetary Fund (IMF) and Word Trade Organization (WTO) can work together and play a role in cooling the current trade war, “how to get and follow the agreement between their members on global rules of the road”.
But he insisted that he cannot reduce the challenges “in addressing the current trade tensions”.