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UK Central Bank Governor Sees Digital Currency Displacing US Dollar as Global Reserve




A central bank-supported digital currency could replace the dollar as the global hedge currency, said Bank of England governor Mark Carney.

Speaking at the Economic Policy Symposium in Jackson Hole, Wyoming, on Friday Carney discussed the need for a new international monetary and financial system (IMFS), noting that while the U.S. dollar has played a dominant role in the world order over much the past century, recent developments such as increased globalization and trade disputes may have stronger impacts on national economies at the present moment than they would have in the past.

Carney highlighted the dollar’s use in international securities ...

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