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Nigerian Currency Plunges After Central Bank Rate Hike


The Nigerian Naira weakened significantly against the U.S. dollar following the Central Bank of Nigeria’s (CBN) decision to hike interest rates for the fifth time this year. The naira dropped to NGN1,658 per dollar on the official foreign exchange market after the CBN increased the benchmark...

QCP Capital Analyzes Bullish Macro Trends Impacting Bitcoin and Risk Assets


According to QCP Capital’s latest analysis, macroeconomic conditions are becoming increasingly favorable for risk assets, including cryptocurrencies. Central bank policies, particularly from China and the U.S. are playing a crucial role in shaping market sentiment. QCP Capital: Central Bank...

Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points


The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms...

Bank of Canada Redirects Efforts Away From Retail CBDC


The Bank of Canada has announced a strategic shift away from developing a retail Central Bank Digital Currency (CBDC) to focus on broader payments system research and policy development. This decision follows a public consultation in 2023, which revealed significant privacy concerns among...

Lynette Zang: Hyperinflation Looms as US Dollar’s Purchasing Power Dwindles


Lynette Zang, CEO of Zang Enterprises, asserts that hyperinflation is already underway, predicting a further decline in the U.S. dollar’s value. According to Zang’s recent interview with Kitco, the current financial trends indicate that the dollar’s purchasing power will reach zero, leading to...

Bank of Korea to Launch CBDC Payment Trial in Supermarkets


South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships...

AI may lead to inflationary pressures: Bank of Canada


According to the Bank of Canada’s Governor Tiff Macklem, central banks need to be closely attuned to how AI is affecting inflation, both indirectly through overall demand and supply and directly through price-setting behavior

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