China's Central Bank Cuts Rates, Again. More Bitcoin Adoption in the Offing?
China's central bank has cut its benchmark lending and deposit rates again in an attempt to stir a stuttering economy. The People's Bank of China. The People's Bank of China, the authority as the Chinese Central Bank has cut its rates and lowered the minimum ceiling of cash reserves that banks must hold, in order to try and shake up some; activity to spur a slowing economy. Reuters reports that it is the sixth time since November last year that China has slowed down on its monetary policy by slashing its interest rates in the face of stagnating growth and prolonged weak inflation. The....
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The Bank of Canada has joined the list of bank-related institutions to commission research papers regarding the use of digital currencies, particularly Bitcoin. Its two authors came up with an economic framework to analyze their exchange rates. Blockchain as a challenge for central banks. The Bank of England had earlier released a research paper that studied the macroeconomic consequences of issuing central bank digital currency (CBDC). The 2015 paper by the Bank for International Settlements noted that the emergence of distributed ledger technology could present a hypothetical challenge....
The BoE has become the first major central bank to raise interest rates since the pandemic by hiking its basic rates to 0.25%.
The central bank of Canada has published a new working paper that suggests its researchers believe digital currency exchange rates will become less volatile should adoption increase. Penned by researchers Wilko Bolt (of the central bank of The Netherlands) and Maarten RC van Oordt (of the Bank of Canada’s Financial Stability Department), the paper offers a possible "economic framework" for exchange rate analysis. Published on 18th August, it further represents the latest work from a major central bank, following growing interest from this segment of the financial community in....
The Central Banks of Japan and Europe have imposed negative interest rates on deposits. Would these blunt monetary tools of Central Bankers be effective if bitcoin adoption becomes widespread? Negative interest rates are the tools of Central Banks. Christine Lagarde, International Monetary Fund Managing Director, says: Negative interest rates are the emergency tools of Central Banks - they spur lending and investment in the economy when traditional measures have failed. Investors may tolerate marginal negative yields on sovereign debt because it is a safe investment, and they may be forced....
The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers.
China’s Central Bank Insists on Expanding Digital Yuan Environment
The monetary policy regulator of China has called for improving the integration between the digital yuan (e-CNY) system and traditional tools for electronic payments. The People’s Bank of China (PBOC) says this will....