The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%. In a statement, it pledged to “stay the course in raising interest rates significantly at a steady pace” and, in unusually firm language, said it intended to hike by another 50 basis points … Continue reading ECB raises rates by 50 basis points, pledges further hike in March
Photo by Anna Tis on Pexels.com It's all going up: electricity, diesel, vegetables, the Internet, hotels, flights, and now, interest rates. The war in Ukraine, the on-and-off lockdowns in China, a persistent power crunch and disrupted production chains have bumped into a huge appetite for goods and services, upsetting the delicate balance between supply and … Continue reading Why central banks raise interest rates during economic recession
Digital currencies have been surging in popularity over the last few years as cryptocurrencies like Bitcoin have entered the mainstream and captured millions of people’s imagination. Photo by David McBee on Pexels.com This rise has also turned the heads of the world’s central banks as fears grow that domestic currencies could be undermined by their … Continue reading CBDCs: Which countries are using digital currency?