Late last summer, Mark Carney called for the global monetary system to replace the US dollar as the reserve currency with a digital alternative.
Mr Carney raised the notion after saying the US dollar had become too dominant. This was a 'pretty wow moment' - a G7 central banker openly suggesting a competing rival currency to the dollar. The suggestion would see a digital currency compete with the dollar's domineering influence, as well as having other far-reaching consequences on global politics and commerce. I'm sure such a comment by such a prominent character wasn't just an off the cuff remark. At the time, we suspected we would see the rhetoric over the use of cryptocurrencies rise as interest rates continued to head t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
