New World Bank Report: Nigeria’s Exchange Rate Policies Fueling Inflation, Affecting Food Prices
Nigeria’s use of multiple exchange rates regimes may have contributed to a rise in the country’s inflation rate, the latest World Bank report has said....
Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think...
Spanish Deputies File Proposal to Accelerate the Creation of a Digital Euro
A group of Spanish deputies filed a proposal that seeks to accelerate the implementation of a digital euro. The proposal, presented on June 8, asks...
Camarasal Poll Shows Entrepreneurs Are Worried About Bitcoin Law in El Salvador
Camarasal, a well known entrepreneur association in El Salvador, announced the results of a poll made this month. The poll shows almost 100% of Salvadorans...
Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation Is Transitory
The latest Bank of America’s Global Fund Manager Survey shows that “long bitcoin” is now the second most crowded trade. Moreover, most fund managers believe...
Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation
The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue...
Nigerian Central Bank Threatens Jail Time for Citizens Caught Defacing Naira Banknotes
Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes....
JPMorgan Is Stockpiling Cash – CEO Claims There’s a ‘Very Good Chance Inflation Will Be More Than Transitory’
Investment bank JPMorgan Chase is stockpiling cash according to the company’s CEO Jamie Dimon. The investment banker doesn’t seem to believe inflation is “transitory” and...
After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’
Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime...
Lebanese Economy Crashes to New Lows – In Less Than Two Years Nation’s Currency Lost 90% Against the US Dollar
The Lebanese pound dropped to a new low on Sunday against the greenback trading in the low 1,500s range to the U.S. dollar. Lebanon’s currency...