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 gold by central banks reached 800 tonnes net, an increase…
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monetary policy
The Federal Reserve could cut interest rates again
The Federal Open Market Committee (FOMC) of the US Federal Reserve discussed the possibility of lowering interest rates in 2024, but stressed the need to maintain a restrictive stance to control inflation, according to the minutes of its…
JP Morgan: “The world will avoid economic recession”
At an event organized by JP Morgan Asset Management, Lucía Gutiérrez-Mellado, the firm's director of strategy, announced a slowdown in economic growth. However, she stressed that recession has been avoided, and the strength of this slowdown…
Digital payments in South America have grown considerably since 2018
In a statement issued after the XLI Meeting of Presidents of Central Banks of South America, held in Quito, the Central Bank of Ecuador reported that digital payments in the South American region experienced an impressive growth of 84 % in…
The IMF recommends the Fed to continue with its policy
The US Federal Reserve (Fed) should not relax yet in the fight against inflation, according to the deputy managing director of the International Monetary Fund (IMF), Gita Gopinath, for whom the US central bank has to "stay the course" and…
The Fed decreed a new increase in interest rates
The Federal Reserve of the United States (FED) decreed a new increase in reference interest rates in the order of 0.5 percentage points to place them in a range that oscillates between 0.75 % and 1 % with the purpose of avoiding a increase…
The Fed will reduce its balance sheet by 95,000 million dollars
The United States Federal Reserve (Fed) opened the door, in its last monetary policy meeting, to a reduction in its balance of assets worth 95,000 million dollars, (equivalent to 87,188 million euros) per month as of summer, according to…
Bank of England raises rates a quarter point
The Monetary Policy Committee of the Bank of England decided to increase, for the third consecutive time, the reference interest rate for operations by 25 basis points, going to 0.75 %. The decision was approved with votes in favor against…
Central Bank of Ghana to launch pilot test for CBDC in September
The Deputy Governor of the Central Bank of Ghana (BoG), Maxwell Opoku-Afari, reported that the institution will undertake, in September this year, a pilot program for the 'digital cedi', the country's official currency. The announcement was…
Bank of Mexico increases interest rates to 4.25 %
Most of the members of the Governing Board of Bank of Mexico(Banxico) resolved to increase interest rates by 25 basis points, to stand at 4.25 %.
With this decision, the financial entity aspires to slow down inflation, which stood at 6.02…
Salvadoran authorities analyze paying salaries with Bitcoin
Salvadoran government ministers are discussing the possibility of paying salaries in bitcoin, after the approval of the law that gives legality to the digital currency and that will come into effect next September.
Officials from the…
MicroStrategy board of directors will receive salaries payment in Bitcoin
The board of directors of the analytics software company MicroStrategy has announced the payment to its board with bitcoin, as reported by the CEO of the company Michael Saylor.
According to the press release, the benefit will only be…