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Central Bank

no-rate-hikes-in-russia,-central-bank-keeps-interest-rate-level-again

No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again

Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year. The monetary authority improved its forecast for the Russian economy and now expects growth entirely in positive figures, up to 2.0% for 2023. Bank of […]

No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again Read More »

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‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says

Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop, according to Philip Lane who believes the bank has to bring inflation back to the 2%

‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says Read More »

russia-to-work-with-digital-currencies-of-other-nations

Russia to Work With Digital Currencies of Other Nations

The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of

Russia to Work With Digital Currencies of Other Nations Read More »

russia-developing-payment-gateways-with-partners-like-turkey,-mulling-crypto-settlements

Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements

Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank ‘Actively Working’ With Turkey on New Payment Gateways The

Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements Read More »

core-inflation-on-upward-trend,-further-rate-hikes-expected,-ecb-execs-say

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say

Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say Read More »

household-crypto-holdings-included-in-bank-of-russia’s-consumer-finance-survey

Household Crypto Holdings Included in Bank of Russia’s Consumer Finance Survey

The Central Bank of Russia has added crypto asset holdings of households to its survey of consumer finances. The statistics reveal that Russian families keep more money in cryptocurrency wallets than in gold investment accounts or mutual funds. Russia’s Central Bank Evaluates Cryptocurrency Holdings of Russian Households The Central Bank of the Russian Federation (CBR)

Household Crypto Holdings Included in Bank of Russia’s Consumer Finance Survey Read More »

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A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar deposited by customers. Although there

A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking Read More »

digital-euro-key-for-european-payment-autonomy,-ecb-president-lagarde-says

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says

The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely available, Christine Lagarde assured during a discussion devoted to central bank digital currencies. Payment Cards

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says Read More »

federal-reserve-hikes-rate-by-25bps-to-keep-inflation-at-bay,-aims-for-2%-inflation-rate-by-2025

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025

Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed Raises Rate Despite Calamity in the U.S. Banking Sector It’s been

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025 Read More »

elon-musk-criticizes-federal-reserve’s-data-latency-and-calls-for-immediate-rate-drop-amidst-banking-chaos

Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal

Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos Read More »