Australia Central Bank Admires Bitcoin But Says It Has ‘Flaws’

“Even if one is quite skeptical of whether bitcoin will have a significant role in the economy in the future, I think it is hard to avoid some admiration for its design,” Reserve Bank of Australia official Tony Richards thus addressed bitcoin and cryptocurrencies in general in a speech to the Australian Business Economists in... Continue Reading →

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Erdogan adviser says central bank independence ‘fundamental’

The Turkish central bank’s independence is “fundamental” and it will act according to market needs and realities, President Tayyip Erdogan’s chief economic adviser Cemil Ertem said on Monday, a day after presidential elections.     Presidential Adviser Cemil Ertem poses after an interview with Reuters in Ankara, Turkey, January 9, 2018. Picture taken January 9,... Continue Reading →

A Long-Secret Bitcoin Key Is About to Be Revealed

A long-held bitcoin secret is about to be revealed Alyssa Hertig      Jun 26, 2018 at 04:00 UTC  |  Updated  Jun 27, 2018 at 04:25 UTC No, it's not the identity of Satoshi Nakamoto, it's a private key the cryptocurrency's creator entrusted to several bitcoin developers that activates the protocol's so-called "alert system," once used to flash... Continue Reading →

Estimating Cyber Risk for the Financial Sector

by Christine Lagard, IMF Director Cyber risk has emerged as a significant threat to the financial system. An IMF staff modeling exercise estimates that average annual losses to financial institutions from cyber-attacks could reach a few hundred billion dollars a year, eroding bank profits and potentially threatening financial stability. Recent cases show that the threat... Continue Reading →

Monetary policy in the euro area

Mario Draghi spent a whole speech Monday night explaining how the end of quantitative easing next December would not mean the central bank has turned into a hardcore hawk. On the contrary, it will wait nearly another year to raise its interest rates, which will remain negative until then. “Interest rates will remain at their... Continue Reading →

Taper talk: European Central Bank

Economists will be watching closely as Mario Draghi, the bank’s president, delivers an account of its monetary-policy meeting today. The ECB is expected to discuss a gradual end to its €2.4trn ($2.8trn) asset-purchase programme and the big question is whether it will announce its plans to do so this month. Officials have been encouraged by... Continue Reading →

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