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In a speech given in March 2018 to the inaugural Scottish Economics Conference, Bank of England Governor, Mark Carney, considers the future of money, and specifically how developments in money and payments technologies could transform our economy in ways good and bad. An opening clip is below but to watch the full speech visit https://www.bankofengland.co.uk/speech/2018/mark-carney-speech-to-the-inaugural-scottish-economics-conference .

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Climate change means we may face more frequent or severe weather events like flooding, droughts and storms. Examples of recent weather events that have been linked to human-driven climate change include the heatwave and droughts in China in the summer of 2013 and, the following winter, extreme rainfall and flooding here in the UK. These events bring ‘physical risks’ that impact our society directly and have the potential to affect the economy. If these events happen more...

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Central banks and financial regulators have a core responsibility to understand risks to financial stability and the financial institutions which they supervise. There is growing recognition and evidence of the financial risks from climate change and their relevance to central bank mandates. Forming a strategic response to the financial risks from climate change helps ensure the Bank can fulfil its mission to maintain monetary and financial stability, both now and for the long term....

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Our Governor,   Mark Carney, will be logged on to Future Forum and answering your questions on anything surrounding the future of money, on 9 January at 15:30 . The deadline for question submission for the Governor ahead of his session is now closed. The Governor will do his best to address as many of the questions as possible. Please remember to login in at 3:30pm on Wednesday 9 January to view his responses and to submit your questions live to the Governor.

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Our Deputy Governor Jon Cunliffe will be answering your questions on financial innovation, risks to financial stability and the work the Bank of England is doing to keep your money safe on Thursday 13 December at 2:30pm. Submit your own ideas under the  Banking on a new world  section and post your questions in the comment section below. He will answer as many as possible during the session and looks forward to chatting with you all.

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The economy and the environment have always been linked. In this video you can find out more about the connection between economic growth and demands on the world’s natural resources. https://www.youtube.com/watch?v=AQdLICwtIpw Two KnowledgeBank guides look into this further and explain the risks climate change poses to financial stability and why climate change matters to the Bank of England .

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Our Chief Operating Officer Jo Place will be answering your questions on 27 November at 4:00pm. Submit your own ideas under the  Bank to the Future  section and post your questions in the comment section below. Jo will answer as many as possible during the session and looks forward to chatting with you all.  

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Our Deputy Governor  Sam Woods will be answering your questions on 16 November at 10:30am. Submit your own ideas under the  Banking on a new world  section and post your questions in the comment section below. He will answer as many as possible during the session and looks forward to chatting with you all.

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Our shopping and banking habits have changed. With more money being spent online, high street shops are struggling to compete. But where there were once bank branches and pubs, other businesses are taking over. Discover how the High Street is changing by visiting our new blog:   https://bankofenglandfutureforum.co.uk/blog/view

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Our Deputy Governor Dave Ramsden will be answering your questions on all things money on 14 November at 13:30. Submit your own ideas under the Money, Money, Money section and post your questions in the comment section below. He will answer as many as possible during the session and looks forward to chatting with you all.      

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  The environment, the global economy and climate change The economy and the environment are closely entwined. Many economic activities have an environmental impact. Burning coal, oil and gas can contribute to climate change, while waste from factories can pollute our land, rivers and sea. The environment can affect the global economy too. For example, the floods in Thailand in 2011 resulted in over $45 billion of economic losses. More positively, at the other side of the globe, the...

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Our work on fintech is wide ranging and looks at how technology is changing financial services. Developments in financial technologies, such as artificial intelligence (AI) and distributed ledger technology (DLT), have the potential to fundamentally change the way businesses can provide – and consumers can use – financial services.  In his speech on The Promise of Fintech  our Governor, Mark Carney, said “there are clear prospects for new financial technologies to make the financial...

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We’re exploring what the financial system of tomorrow might look like, and what it means for the Bank of England’s priorities now and in the future. New economics, new finance, new Bank   “The Bank recognises that a new economy, a new world and new demographics demand a new financial system ... The new finance will develop for the new economy, not in isolation from it.”   Governor Carney, Mansion House speech, June 2018 The future of finance project is looking at how financial...

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A digital currency is an asset that only exists electronically. Digital currencies such as Bitcoin were designed to be used to make payments, but today many digital currencies are held as speculative assets by investors who hope their value will rise. The Bank is carrying out research into digital currencies and the technology that supports them, you can find more information on our website: https://www.bankofengland.co.uk/research/digital-currencies What are cryptoassets? There...

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Most of the money in the economy is created, not by printing presses at the central bank, but by banks when they provide loans. How does it work? Money is more than banknotes and coins. If you have a bank account, you can use what’s in it to buy things, typically with a debit card. Because you can buy things with your bank account, we think of this as money even though it’s not cash. Therefore, if you borrow £100 from the bank, and it credits your account with the amount,...

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Every day bundles of fresh banknotes land on the conveyor belts in our printing facility in Essex. The new cash is bought by wholesale distributors who supply to commercial banks, which stock some of it in ATMs all across the country. Most of the money we print is to replace old, worn-out banknotes. But we also have to predict, or forecast, how much we think demand for cash will increase. When forecasting demand for banknotes we have to think about what drives it. Fundamental...

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Remember life before Monzo cards, Amazon Prime and online grocery shopping? We don’t either. The internet has paved the way for a wealth of wonderful inventions but it’s not all roses. Cyber-attacks are on the rise – and they’re becoming more advanced. What is cyber-risk? People do much of their finances online nowadays and that means everyone is more exposed to cyber-crime. Businesses call this cyber-risk and it can cost them money, cause disruption or damage their...

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Help us to understand how and why you make payments the way you do! We want to explore the future of cash, but first we want to know how and why people choose to pay in different ways today.  To help us understand this we are tasking the people of the UK to undertake our Cash vs Cashless Challenge for a week.     How can I take part? It's simple...If you usually pay with cash, we're asking you to go cashless (this can...

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Joined this community on Oct 26, 2018

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