Carney: Reserve currencies other than dollar likely

Economy | Politics 1/9/2019, 4:59 PM
Carney: Reserve currencies other than dollar likely

Bank of England governor Mark Carney participated in a virtual forum on Wednesday in which he answered questions related to the central bank's monetary and financial policy.

In his answers, Carney stated that any future BoE rate hikes will be "at a gradual pace and to a limited extent." He also outlined that reserve currencies apart from the United States dollar may become a reality in the form of existing national currencies. Finally, he said that the BoE is keeping an "open mind" about using digital cash in the future and that this would be explored further in its Future of Finance report due to be published next year.

Breaking the News / DZ

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