BOE Approaches Libra `With an Open Mind But Not an Open Door': Carney

The transcript discusses the importance of pre-launch regulations for innovations like Libra, the Bank of England's report on the future of finance, and the role of digital strategy and AI in the financial system. It highlights the qualities needed for the next Bank of England governor and examines Libra's potential impact on global remittances. The discussion also covers the significance of financial services in UK regions and the role of technology in distributing jobs.

Why is it important to set terms of engagement for innovations like Libra before their launch?

• To allow users to adopt them freely

• To make them more profitable

• To prevent them from being used globally

• To ensure they are well-regulated from the start

What is one of the key focuses of the Bank of England's Future of Finance report?

• Increasing the number of bank branches

• Digital regulation and AI

• Expanding the use of cash

• Reducing interest rates

What significant step is the Bank of England planning to take regarding its environmental impact?

• Ignore its carbon footprint

• Disclose its carbon footprint

• Increase its carbon footprint

• Reduce its carbon footprint by 50%

What is a crucial attribute for the next governor of the Bank of England?

• An understanding of the financial system

• Experience in the entertainment industry

• A focus on increasing cash transactions

• A strong background in agriculture

How might Libra impact the current financial order?

• It will have no impact

• It could be a threat

• It will strengthen the current order

• It will only affect small businesses

What is one of the recommendations for improving regional financial services in the UK?

• Centralizing all financial services in London

• Reducing the number of financial jobs outside London

• Developing a regional strategy around payments

• Eliminating mobile and broadband services

What role does technology play in the distribution of financial services jobs across the UK?

• It reduces the number of jobs available

• It allows jobs to be more distributed

• It has no impact on job distribution

• It centralizes jobs in major cities