© Reuters. FILE PHOTO: A man stands outside the Bank of England in the City of London, Britain April 19, 2017. REUTERS/Hannah McKay
LONDON (Reuters) – A central bank digital currency would not pose an excessive challenge for the Bank of England’s operations, Andrew Hauser, the BoE’s executive director for markets, said on Wednesday.
“By themselves, balance sheet considerations do not obviously present any ‘redline’ arguments against CBDC adoption, if that is the chosen way forward,” Hauser said in remarks ahead of a discussion hosted by the Federal Reserve Bank of New York.
“While the technologies for such currencies would be new, the use of the central bank balance sheet to provide state-backed transactional money is one of our most longstanding functions,” Hauser added.
No ‘red line’ against central bank digital currency, BoE’s Hauser says