The BoE welcomes Treasury’s Call for Evidence. Key points include:
- the usage of cash is evolving, but there is, and is likely to remain for the foreseeable future, a significant public demand for banknotes;
- effective banknote denominational mix is important. The BoE believes that there is a strong case to keep the £50 banknote in order to effectively meet legitimate demand and to avoid increased dependence on the £20 banknote; and
- developing and maintaining an appropriate banknote distribution and authentication model remains an important priority for the cash industry and the BoE.