Although it has fallen in net terms since its early 2002 peak, this has only unwound its rise since the mid 1990s. This is not what one would expect for a country having difficulty attracting the funds to finance its deficit.
Indeed, the Bank of England sees potential benefits from DLT for future RTGS systems, although, like us, it believes that this technology it is not yet sufficiently mature. But we will continue to look into it. As for the retail side, that is, central bank digital currencies replacing banknotes and coins, we are much more prudent.