U.K. Wage Growth Eases Less Than Expected Average pay growth was 6.2% in the fourth quarter while unemployment unexpectedly ticked down, signalling a stubbornly tight labor market and reflecting inflationary pressures as the BOE weighs when to start cutting interest rates. Source link
The rupee appreciated 3 paise to 83.37 against the US dollar in early trade on Monday, amid sustained inflow of foreign funds and bullish sentiment in the domestic equity market. An upward movement in crude oil prices, however, weighed on the Indian currency, according to forex traders.
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
Central Bank of Argentina The Central Bank of Argentina (BCRA) ordered another large increase in its policy rate on October 12, as inflation jumped and the national currency shrivelled on informal markets. Policy-makers raised the Leliq rate by 15 percentage points to 133%. Since January 2022, the central bank has more than tripled its policy … Read more
Will the use of CBDCs improve cross-border payments? Central Banking Source link
Imagine a world where a party could buy or sell currencies at the market rate, and get their hands on the cash in close to real time without having wait for the trade to settle two days later. Settlement and counterparty risk would be close to zero and funding costs would be slashed. Fewer intermediaries … Read more