On the 27th, the UK Treasury announced its plan to assign new ancillary responsibilities to the Bank of England, the central bank, to support technological innovations in payment systems and the emerging digital money sector. The bank's primary objective of prioritizing financial stability remains unchanged.
This ancillary responsibility is positioned under the primary objective of prioritizing financial stability. The Bank of England will now report annually to Parliament on its progress in addressing this responsibility.
Lucy Rigby, the Treasury's financial secretary, ...