Canada’s Tiff Macklem Insists ‘Rate Increases Are Warranted,’ Canadian Column...
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’....
Related News
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.....
Tiff Macklem said Canada's digital dollar initiative is progressing past the experimental phase and that the G7 needs to coordinate on digital currencies.
Hype can be bad. Overhype can be embarrassing. Do you remember when segways were supposed to flip transportation, urban life, and life as we know it on its head in the early 2000s? Well, we all know how revolutionary that turned out. You could argue there’s a great deal of hype surrounding Bitcoin: you could be stuck in your computer chair for hours as you read every article with the term “Bitcoin Revolution” in it. Revolution, evolution, hype, whatever. For the Bank of Canada, the threat of digital currencies overtaking fiat money remains hype for now. Stephen Poloz, governor at the....
Canada's central bank recognizes that CBDCs are a necessarily international issue. Canada doesn’t want any "surprises" regarding central bank digital currencies. In a recent interview with Reuters, Bank of Canada Governor Tiff Macklem doubled down on the country's contingency-plan approach to CBDCs, stressing that he sees no urgent need to issue one right now. For Macklem, inter-state competition and coordination remains the key question when it comes to CBDC issuance. He told reporters:“If another country has one and we don’t, that could certainly create some problems. So we want to make....
BIGG Digital Assets, a Canadian crypto company, revealed this week that it bought 40 additional bitcoins for long-term treasury holding. The purchase increased BIGG’s reserves to 189.5 bitcoins valued at US$3.63 million in total. The Canadian Securities Exchange-listed firm spent about CAD$1 million ($775,000) on its latest buy. The company said it “believes strongly in the future of bitcoin, its store of value capability, and its future valuation potential.” Mark Binns, chief executive officer of BIGG, noted that his company, owners of crypto brokerage Netcoins and data....