A pilot plan to create a new digital currency platform and accelerate cross-border payments is led by the G7, the Federal Reserve and the main central banks of Europe, Korea and Japan. 40 of the world's main banks have joined the project.
The project was named Agora. “Seven central banks in total…
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central banks
IMF foresees a slowdown in global inflation in 2024
The International Monetary Fund recently indicated in a report that it foresees a reduction in global inflation this year of 5.9 %.
According to Pierre-Olivier Gourinchas, economic advisor and director of the IMF Research Department, this…
China and Russia lead the “global gold rush” in 2024
In the first nine months of 2023, central banks around the world have intensified their interest in acquiring reserves of this coveted metal, with China and Russia leading the bullish trend. According to the World Gold Council, purchases of…
IMF says CBDCs can promote financial inclusion
The speech by the director of the International Monetary Fund, Kristalina Georgieva, during the inauguration of the FinTech Festival in Singapore, was an exhortation to public institutions to prepare for the implementation of CBDCs as an…
Central banks return to the frequency of dollar injections prior to the Credit Suisse crisis
The Bank of England, the Bank of Japan, the European Central Bank (ECB) and the Swiss National Bank, in consultation with the United States Federal Reserve (Fed), jointly decided to reverse the frequency of their operations to inject dollar…
South Dakota will treat CBDCs as money
The Senate of South Dakota, a state located in the Midwestern United States, recently passed a law that establishes that digital currencies issued by central banks, known as CBDCs, will be considered as legal money in the state. However,…
Visa targets stablecoin liquidations
Visa is investing in the global settlement of digital assets and fiat currencies, with the goal of allowing its clients to convert digital assets into fiat currencies on its platform.
The head of the company's cryptocurrency division, Cuy…
Australia to explore use cases for CBDC
The Reserve Bank of Australia (RBA) announced that it will conduct a pilot program to explore the use cases and potential economic benefits for central bank digital currencies (CBDCs).
This program will be carried out by the Digital…
The US Treasury highlights the importance of CBDC
The US Treasury's Bureau of Financial Research recently indicated that central bank digital currencies (CBDC) can increase the stability of the banking system.
The institution's researchers indicated that in difficult times, clients often…
IMF asks central banks to deal with inflation
The managing director of the International Monetary Fund (IMF) asked the central banks to adopt "decisive actions" for the benefit of the economies of their countries in the current inflationary context, aggravated by the war situation in…
ECB will continue with its economic stimulus policy
ECB President Christine Lagarde recently pointed out that raising interest rates too quickly would stifle the Eurozone's recovery. "Raising the main interest rate of the European Central Bank now would not reduce the historically high…
The European Union estimates to launch its digital currency in 2025
The European Commission continues to work on the development of the digital euro and they estimate to finalize a first prototype of their digital currency by the end of this year. But the commission plans to launch it on the market,…