The Eastern Caribbean Central Bank is celebrating 40 years since its founding. What do you view as the main benefits of the Eastern Caribbean Currency Union? The main benefit, without a doubt, is relatively low inflation over an extended period. Since 1976, we have pegged US$1 to EC$2.7. Our inflation is largely imported and typically … Read more
“Modern money is backed by a series of institutions, mostly housed in central banks. Its value rests on confidence. The value of money requires not just the belief of the public at a point in time but, critically, the consent of the public at all times … When it comes to money, the consent and … Read more
Table of Contents The cryptocurrency market, already known for its wild fluctuations and unpredictability, is currently rife with anticipation. Speculations abound regarding a massive wave, potentially dwarfing any previous surges witnessed in major digital currencies. This isn’t merely the result of whispers in niche crypto communities; it’s a rumble heard in the very halls of … Read more
Will the use of CBDCs improve cross-border payments? Central Banking Source link
CNN Business — As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a Central … Read more