Central Bank Digital Currencies (CBDCs) are about to enter in wider public discourse. The Bank of England has recently published a Consultation Paper on CBDCs. However, 86% of central banks around the world are looking at both domestic and international, cross-border use of CBDCs. Indeed, the introduction of CBDCs for cross-border financial transfers is likely to happen far sooner than domestic retails CBDCs. This launch will be into a less-than-stable global financial system, reliant on the US Federal Reserve as the de facto global central bank. Michael will indicate how wide digital currency areas may provoke changes in the invoicing of trade flows.
Dr Michael Lloyd read economics at Trinity College Cambridge, some 50 years ago. Now a Senior Research Fellow and Associate Director at the Global Policy Institute (London), Michael has wide experience as an applied economist in industry; in European international organisations, including as Economic Adviser to the European Parliament in 1998, covering preparations for the establishment of the European Central Bank in 1999. His earlier experience included posts as an economist with the UK Trades Union Congress between 1970 and 1973; as a permanent official of the European Commission, 1973 to 1980; as International Director of British Shipbuilders, 1980 to 1984, and as a Managing Director of his own economic consultancy company from 1984 to 1997. He has published a number of books and in currently in the final stages of a book, CBDCs: The Future of Money, to be published by Agenda Publishing at the end of April this year.
Wednesday, 15 March 2023
11:00 - 11:45 GMT
Share this event on social media: