Canadian Central Bank Not Worried by Bitcoin
Representatives from the Bank of Canada claim the institution remains unconcerned by the advent of bitcoin and digital currencies in general. Speaking at a session of the Senate banking committee, central bankers said it is simply too early to predict whether digital currencies will gain traction from mainstream users. Bank of Canada governor Stephen Poloz added that digital currencies are still in their infancy and have not progressed to the point where he would call them money, reports Global News. "We've got a ways to go before we need to be thinking about policy implications," he said.....
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The Central Bank of Nigeria (CBN)’s director of monetary policy, Hassan Mahmud, has suggested that the institution is not worried about the naira’s valuation but is instead interested in “boosting dollar supply on the currency market.”
Naira Depreciation
According to a report, Mahmud’s remarks were made just a day after the local currency touched a new low of 532 naira for one dollar on the parallel market. This new parallel market exchange rate differs significantly from the CBN’s current spot exchange rate of approximately 411 naira....
In a revelation on Wednesday, the Bank of Canada – Canada’s central bank – said that it is developing a digital currency called CAD-Coin, in collaboration with Canadian banks and New York-based blockchain startup R3. In a private presentation during the payments industry conference Payments Panorama in Calgary, the Bank of Canada revealed it is developing a digital equivalent of the Canadian dollar called CAD-Coin. Five of the biggest Canadian banks – Bank of Montreal, Canadian Imperial Bank of Commerce (CIBC), RBC, Toronto-Dominion Bank and Scotiabank are revealed to be participants, by....
Bank of Canada is seriously looking into blockchain technology. At the same time, the Canadian payment ecosystem is expected to see some changes in the coming months. Speaking of alternative currency and technology associated with it, the bank of Canada is looking into the use of blockchain technology seriously. The new came out recently after the Senior Deputy Governor of the Bank of Canada, Carolyn Wilkins mentioned that the central bank will be making use of the distributed ledger technology to test interbank payments. During the same session, Wilkins also made it clear that the country....
Canadians have been dealing with rising inflation and the Bank of Canada raising the benchmark interest rate following more than two years of monetary easing tactics. On Sunday, Canadian central bank governor Tiff Macklem explained that “reasonably good harvests” will contribute to reducing food inflation. The day before Macklem’s statements on CBC Radio, Canadian columnist Lorne Gunter published an opinion editorial that insists the “Bank of Canada governor needs to go.”
Macklem Stresses ‘Further Interest Rate Increases Are Warranted’....
Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts Lenders’ Investment in Mobile Banking Infrastructure The Nigerian central bank governor, Godwin Emefiele, has reportedly slammed some lenders he accuses of thwarting the adoption of the e-naira digital currency in the....