Articles on Central banks

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Global central banks, like the Bank of Canada, are considering their own digital currencies as a backstop to prepare for a future where cryptocurrency dethrones cash as king. THE CANADIAN PRESS/Adrian Wyld

Central bank digital currencies could mean the end of democracy

Central banks worldwide are racing to implement national digital currencies, yet democratic considerations are hardly discussed in public. This has to change.
The Bank of Canada announced a 0.5 per cent interest rate increase on April 13, 2022, in a move to quell Canada’s high inflation. THE CANADIAN PRESS/Sean Kilpatrick

Why we can’t just ‘stop printing money’ to get inflation down

While central banks did help mitigate a COVID-induced recession, they don’t have the power to solve our inflation problem.
Biden reappointed Jerome Powell, seated at left, to head the Fed. Some progressives wanted him replaced with Lael Brainard, seated right. AP Photo/Manuel Balce Ceneta

Jerome Powell keeps his job at the Fed, where he’ll be responsible for preventing inflation from spiraling out of control – without tanking the economy

After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.
There is a need to educate Nigerians on the difference between the digital representation of cash deposits in bank accounts and the eNaira in digital wallets. Pius Utomi Ekpei/AFP via Getty Images

Nigeria’s digital currency: what the eNaira is for and why it’s not perfect

Nigeria can pull off its newly introduced digital currency but there are concerns that must be addressed for its smooth operations.

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