MPs demand UK central bank account for ‘missing’ £50bn

Dawn | Dec 5, 2020 at 8:08 AM
  • MPs on Friday said the Bank of England’s needed to be “more concerned” after it emerged that as much as £50 billion ($67.4bn) in cash was unaccounted for.
  • The Bank of England estimates that between 20 per cent and 24pc of the value of notes in circulation are used for cash transactions.
  • The central bank has highlighted since the start of the pandemic the paradox of increased money in circulation despite a decrease in its use.