Central Bank

Digital Assets for 1 Billion Rubles Issued in Russia in a Month

by

Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional…

Gold Slides on Higher US Treasury Yields, Dollar

by

Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

by

After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally,…

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

by

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…

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

by

At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the…

Pakistan Banks to Use Blockchain Technology for KYC

by

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and…

Crypto Exchanges Binance and Kuna Suspend Card Transactions in Ukrainian Hryvnia

by

Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media. Ukrainians Unable to Trade Crypto Assets Using…

Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023

by

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to…

World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’

by

On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with…