Meeting on 25 May, the governing board of Mexico’s central bank voted unanimously to hold its key interest rate at 11.25 percent, halting its fastest and steepest series of rate increases on record.
Tag: central banks
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TURKEY’S CENTRAL BANK DRAINS GOLD, FOREIGN RESERVES NEAR ELECTION
The Central Bank of the Republic of Turkey saw its foreign currency reserves dwindle by $9.5 billion from 1 April through 12 May and its gold stores shrink by $7.9 billion ahead of mid-May’s first-round presidential election, the Financial Times calculated from the bank’s data.
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CENTRAL BANKS’ INFLATION BUNGLE HAS COST THEM CREDIBILITY
Last week, the Bank of England Museum hosted a “Festival of Mistakes,” highlighting notable financial blunders and panics of the past.
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GLOBAL DEBT AND THE HUMAN BUBBLE
“The world’s central banks are responsible for creating a “market” for their product, “currency backed by nothing,” by fostering a population boom and consumers who are dependent on their product.” —GM
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AUSTRALIA’S CENTRAL BANK SURPRISES WITH QUARTER-POINT RATE HIKE
The Reserve Bank of Australia (RBA) raised its base interest rate a quarter point last week, only a month after it announced a pause in rate increases so it could assess the economic impact of its higher rates.
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PRIVACY, PROPERTY AND FREEDOM: A TALK WITH WATCHMAN PRIVACY PODCAST’S GABRIEL CUSTODIET
I recently had the pleasure of appearing on an episode of the Watchman Privacy Podcast with Gabriel Custodiet (“Leaving Humanity: The Technocratic Worldview with Joe Doran,” episode 65.)
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YEN’S VALUE SAGS AS CENTRAL BANK LEAVES POLICY UNCHANGED
On 9 April, the value of Japan’s yen slipped 1 percent against the dollar, falling as low as ¥133.4 after Kazuo Ueda, the Bank of Japan’s new governor, announced that the bank will maintain a -0.50-percent interest rate and continue to hold bond rates at rock bottom.
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G7 NATIONS TO HELP DEVELOPING COUNTRIES CREATE DIGITAL CURRENCIES
Helping emerging nations create their own central bank digital currencies (CBDCs) will be among the topics on the agenda of the G7 group of leading wealthy countries when it meets this year to address the world’s rapidly expanding digital economy.
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CATO ANALYSIS PANS CBDC CLAIMS
How do the arguments for the benefits of CBDCs stack up, versus the risks? The libertarian CATO Institute recently updated their assessment, and concluded the supposed benefits of government / Federal Reserve issued digital dollars via retail or end user accounts are overstated.
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CENTRAL BANKS MUST NOW HYPERINFLATE, AND YOU WILL PAY FOR IT
For those of you who may not know, I am going to let you in on a nasty secret. THE POWER OF ANY GIVEN CENTRAL BANK RESIDES IN ONLY ONE THING, AND ONE THING ONLY… ITS ABILITY TO INFLATE.