Bank of Canada hikes interest rate by 0.5% for first time in 22 years — via financialpost Canada Economy interestrates inflation
Bank of Canada governor Tiff Macklem and the six deputies on Governing Council increased the benchmark interest rate to one per cent from 0.5 per cent, the biggest one-time increase in borrowing costs since 2000.
Under QE, the central bank created hundreds of billions of dollars to purchase government bonds. It stopped creating money to buy bonds last year, but as the assets it purchased during the COVID-19 recession matured, it had been using the proceeds to purchase more bonds. The central bank will no longer do that, removing itself as an active buyer in the debt market.Article contentThe Bank of Canada said gross domestic product will increase 4.2 per cent this year and 3.
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Consensus on CBDC design among central banks not a priority, Bank of Canada saysThe Bank of Canada recently confirmed a 12-month research project exploring the use cases of central bank digital currencies with MIT.
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CoinDesk Podcast Network: BREAKDOWN: The Race to the First Central Bank Digital Currency on Apple PodcastsShow CoinDesk Podcast Network, Ep BREAKDOWN: The Race to the First Central Bank Digital Currency - Apr 11, 2022
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Russian invasion will shrink Ukraine economy by 45% in 2022, World Bank saysUnprecedented financial and export sanctions imposed by Western allies in response to the war, meanwhile, are plunging Russia into a deep recession, lopping off more than a tenth of its economic growth, the World Bank said in a report Sunday.
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Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia Insists – Finance Bitcoin NewsThe spread of cryptocurrencies brings significant risks for Russia’s economy and currency, Bank of Russia has reiterated.
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Breakingviews - EU bank dumpster divers still have rich pickingsBetting on basket cases in the European banking sector has worked reasonably well over the past two years. That may explain why a big investor, probably Capital Group, just sold almost 1.8 billion euros of shares in German lenders Deutsche Bank and Commerzbank . France’s Société Générale and Italy’s UniCredit may now offer similar rewards for brave dumpster divers.
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