Monetary policy of cryptocurrencies, explained
Monetary policy for cryptocurrencies is a game-changer — with fixed supplies and decentralized control, they challenge traditional monetary policy tools.
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Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank
The Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John…
Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course.…
New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor
The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial…
IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest…
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To…
Report: Bank of America Economist Predicts 20% Devaluation of the Nigerian Currency in 2023
A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the…
Report: Ghanaian Currency Slips to Another Low Versus the US Dollar
After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new low versus the U.S. dollar, albeit on the unofficial…
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low…
Kenyan Central Bank Raises Key Rate by 75 Basis Points
The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act,…