London: The rise in internet transactions and the push for digital payments from big brands will soon reduce the use of cash, claimed a senior Bank of England official. Sir Jon Cunliffe, Deputy Governor of the Bank of England, pointed out that more than 85 per cent of the daily transactions in the United Kingdom […]
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Washington/London – International investors have lost billions of dollars in the last few days due to the crisis in the banking sector in the United States and Europe. Despite this awareness, the world’s leading central banks have once again announced an increase in interest rates. In the last 24 hours, US ‘Federal Reserve’ and the […]
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Washington/London: The US Federal Reserve has announced an increase in interest rates by half a percentage point. While making this announcement, Jerome Powell, the head of the Federal Reserve, also warned that interest rates in the United States may reach five percent by the end of 2023. After the Federal Reserve’s announcement, the Bank of […]
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Washington/London: The British central bank followed suit after the announcement of an interest rate hike by the US Federal Reserve on Wednesday. These countries, the world’s leading economies, have increased interest rates by half a percentage point each. The US has raised its interest rate to 4 per cent and the interest rate in the […]
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London: Last week, the ‘mini-budget’ presented by British Finance Minister rocked the economy. Against this backdrop, the British central bank announced an additional £65 billion in aid to revive the economy. The Bank of England informed that these funds would be used to purchase government bonds issued by the British government. Meanwhile, British Prime Minister […]
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London: The Bank of England, the central bank, is predicting Britain’s economy to enter recession by the end of this year. The governor of the Bank of England, Andrew Bailey, said that the economic price of the war must be paid and warned Britain to prepare to face the peak inflation index in the next […]
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Warsaw/London: Poland, an important country and a leading economy in Europe, repatriated 100 tonnes of gold. The Polish central bank, ‘National Bank of Poland’ informed that this step has been taken to increase the capacity of the national economy. But the analysts have claimed that the crucial factors behind this repatriation are the uncertainty in […]
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London/Beijing/Washington: “As the world re-orders itself, this disconnect between the real and financial is likely to reduce, and in the process, other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the renminbi,” said the governor of the Bank of England (BoE), claiming China’s Yuan […]
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US will not refute the issue of loans they have taken from other countries. This is the truth. But if times change, China’s business in US can go to dust. China, along with other countries should diversify their investments to avoid the increase of debts. The former Chief of the Bank of England has suggested to make […]
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Washington: The economic figures that have emerged in the last few days indicate a stronger economy than expected. Therefore, Federal Reserve chief Jerome Powell warned that the increase in interest rates in the near term could be higher than previously estimated. Powell’s statement has strongly impacted the global stock market, and several indices have seen […]
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