Central Banks – Page 2

Philippine Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurrency Projects

July 20, 2024

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other…
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Digital Euro Holding Limit: Debate Continues

June 25, 2024

The president of Germany’s central bank has highlighted the ongoing debate about the holding limit for the digital euro, Europe’s central bank digital currency (CBDC). He noted that recent Bundesbank research indicates that the optimal amount could be in the range of 1,500 to 2,500 digital euros per person. ‘The Jury Is Still Out Here’…
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Central Banks Plan Increased Gold Reserves Amid Global Uncertainty: 2024 World Gold Council Survey

June 20, 2024

The World Gold Council’s 2024 survey reveals that central banks plan to increase gold reserves amid geopolitical and financial uncertainties. Over 80% of respondents expect global bullion holdings to rise, and 29% of central banks plan to boost their own reserves. Motivations include strategic rebalancing, domestic production, and market concerns like crisis risks and inflation.…
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Central Banks Boost Gold Reserves by 33 Tonnes in April

June 8, 2024

Global gold reserves rose by 33 tonnes in April, according to the World Gold Council. The Central Bank of Turkey was at the forefront, increasing its holdings by 8 tonnes. This addition marks 11 consecutive months of purchases, bringing the central bank’s year-to-date acquisitions to 38 tonnes and raising its overall official gold reserves to…
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Economist Jim Rickards Predicts Gold Price Exceeding $27,000 — Says: ‘It’s Not a Guess. It’s Rigorous Analysis’

May 19, 2024

Economist Jim Rickards forecasts that gold prices could surpass $27,000, emphasizing that this projection is not made for attention or shock value. “It’s the result of rigorous analysis,” he clarified. This represents a significant increase from his previous estimate of $15,000 by 2026. Jim Rickards’ $27K Gold Prediction Explained Economist Jim Rickards shared his prediction…
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ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’

May 8, 2024

Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core product,” he stressed. ‘We Need to Speed up on All…
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RBI Chief: Crypto Threatens Rupee Stability, Urges Investors to Be Cautious

January 20, 2024

The head of India’s central bank, the Reserve Bank of India (RBI), has warned of significant risks associated with cryptocurrencies, particularly for emerging market economies. “It can impact your financial stability, currency stability, and monetary system,” RBI Governor Shaktikanta Das said. RBI Governor’s Crypto Warnings Shaktikanta Das, the governor of India’s central bank, the Reserve…
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Gold Rush Continues – Central Banks Purchased 44 Tonnes in November

January 9, 2024

Krishan Gopaul, senior analyst of the World Gold Council, revealed that central banks kept adding gold to their reserves during November. According to public records and reports from the International Monetary Fund (IMF), central banks added 44t of gold to their coffers, with the Central Bank of Turkey leading the charge by purchasing 25 tonnes.…
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Economist Steve Hanke: US Dollar Weaponization Has Powered Record Central Bank Gold Purchases

November 28, 2023

Steve Hanke, professor of applied economics at Johns Hopkins University, has discussed how U.S. policies have driven central bank gold purchases to record levels this year. In an interview, Hanke stated that these purchases were motivated by the weaponization of fiat currencies like the dollar, which has driven countries in “de-dollarization mode” to take refuge…
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Nigerian Central Bank Refutes Claims It Plans to Redenominate the Naira in 2024

November 2, 2023

The Nigerian Central Bank has denied claims in a widely circulating text message that it plans to redenominate the naira starting in January 2024. According to the bank, the authors of the message had seemingly “modified text eked from an old policy” by a previous governor in 2007. Press Release: No Plans To Redenominate The…
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Category: Central Banks