European Parliament report recommends researching, but not launching, digital euro
A European economist has found that a digital euro would be a problem without a solution; just wait and see, he suggested. Go to Source Powered by WPeMatico
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Gold Slides on Higher US Treasury Yields, Dollar
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May … Read more
Europeans to See More Interest Rate Hikes, Central Bank Governors Indicate
Further rate hikes are warranted by persisting inflation in the eurozone, according to members of its monetary authority’s decision-making body. Two central bank governors, with different opinions about how aggressive the European Central Bank should be, nevertheless agree that more increases of key interest rates are yet to come. ECB Has Some Hikes Left to … Read more
Despite Using Euro, Montenegro to Develop Own Digital Currency With Ripple
Montenegro intends to create and issue its own digital currency with help from U.S.-based crypto company Ripple. The Southeast European nation, which adopted the euro unilaterally, is moving to realize the plan despite the eurozone developing a digital version of the common currency. Monetary Authority of Montenegro to Cooperate With Ripple on ‘National Stablecoin’ Project … Read more
ECB Board Member Warns EU’s New Crypto Rules Not Sufficient
A European Central Bank Supervisory Board member has warned that the crypto rules in the EU’s Markets in Crypto-Assets (MiCA) bill “will not be sufficient on their own.” While emphasizing that “MiCA will set out important safeguards to prevent incidents similar to the FTX case from occurring,” she cautioned: “Certain areas still need further strengthening.” … Read more
Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say
Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s … Read more
Crypto firms needs to be ‘supervisable’, says ECB board member
“We need to put more thought into imagining what international coordination will look like and how it can be effective in regulating the crypto world,” said Elizabeth McCaul. Go to Source Powered by WPeMatico
ECB Member Fabio Panetta Claims Rising Profit Margins Could Be Fueling Inflation
Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation levels in the long term. … Read more
European Banking Federation shares its vision of digital euro, wCBDC, bank tokens
The EBF calls itself the voice of the European banking sector; it expressed its support for European digital money, with suggestions of its own. Go to Source Powered by WPeMatico
Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps
The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if … Read more