Amid rising economic uncertainties, UK households are increasingly opting to hold physical cash as a safety measure against potential banking failures, as noted by the Bank of England's chief cashier, Victoria Cleland. This behavior has been underscored by a notable rise in banknotes in circulation, a trend that has been observed since 2022. The Bank is inviting the public to share their experiences regarding changing cash habits, highlighting a broader concern about financial security in unpredictable economic times.
UK households are increasingly setting aside physical cash amid extreme economic uncertainty and to provide a safety net for possible banking system outages.
Victoria Cleland highlighted that the Bank of England has tracked a significant increase in banknotes in circulation, continuing a rising trend since 2022.
Collection
[
|
...
]