BoE plans to reshape Leeds hub in levelling-up mov

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BoE plans to reshape Leeds hub in levelling-up move - Today News Post Today News || UK News

The Bank of England is closing its cash distribution centre in Leeds while planning to establish a new northern hub in the city as part of a move to bolster its regional presence around the UK.

The central bank is responding to two trends that have become ever clearer since the start of the pandemic: the declining role of cash in transactions and the shift to remote and hybrid working.

The BoE said on Thursday that lower use of cash in paymentsA weekend ban on inter-city transport has been extended until mid-April, together with the introduction of polymer banknotes, would cut demand for its distributionYou see problems (with vaccine administration) everywhere and vaccine hesitancy is only one of them., which could be met from its main cash centre in Debden, Essex.

It said it would close its Leeds centre when the lease expires in 2023s Cheyenne Bholla, affecting 34 staff, and had begun a consultation with the Unite unionThe Health Protection and Promotion Act, allowin.

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