At the end of January, the Bank of England and the UK Treasury published their response to the consultation on a digital pound that was launched in February 2023.
According to the BoE, a digital pound would complement the role of cash in a digital world. It would always be worth the same as its equivalent in banknotes or coins and would be exchangeable with other forms of money, including cash and bank deposits. Like banknotes, which have a claim on the BoE, it would have intrinsic value and be stable.
