Jerome Powell Hints Uncertainty in Future Rate Cuts
Jerome Powell’s upcoming address follows the Federal Reserve’s first interest rate cut in four years, a 50-basis-point reduction. All eyes are now on Jerome Powell for his address, which comes after the Federal Reserve of the United States of America reduced interest rates by fifty basis points, the first reduction of its kind in four […]
BoE CBDC May Consider Blockchain Alternatives as Underlying Technology
Bank of England’s (BOE) central bank digital currency (CBDC) program could use a different ledger than the popular blockchain technology as its underlying technology. Tom Mutton, manager of the BoE’s fintech and CBDC program, recently discussed the privacy aspect of the CBDC and why they may consider alternatives to the blockchain as the underlying technology. […]
BIS, BoE conclude Project Meridian Pilot Test
The Bank of England (BoE) and the Bank for International Settlements (BIS) have concluded pilot testing for a system for inter-institutional settlements driven by distributed ledger technology known as Project Meridian. A report on the joint experiment Meridian pilot experiment with the Bank of England was released by BIS on April 19. The 44-page report […]
BoE governor doubts need for digital pound
Bank of England (BoE) governor Andrew Bailey raised doubt over the need for a digital pound stating that the UK already has a wholesale settlement system with a major upgrade. A wholesale central bank digital currency (CBDC) has recently been called into question by the governor of the Bank of England (BoE), who pointed out […]
Crypto is not a ‘financial stability risk’-Bank of England’s Deputy Governor
Despite the wonders associated with cryptocurrencies, regulators all over the world have warned about risks involved in the investment, the BoE’s deputy governor has also sent out a warning to citizens of England. Deputy Governor Jon Cunliffe of the Bank of England commented on crypto’s market position, stating that it is not a financial stability […]