The Group of 20 countries on Saturday overcame differences over references to the war in Ukraine and agreed on a joint declaration that paves the way for debt repayment frameworks and country-based climate finance solutions, among other pledges to boost development in the global south. In an 83-paragraph joint communique aimed at deepening the inclusion…
The Federal Reserve of the USA is all set to launch a digital payments system in July this year. Federal Reserve promises that the digital payment system will help accelerate the way money moves around the globe. Richmond Fed President Tom Barkin, who is the program’s executive sponsor, said, “FedNow, as it will be known,…
Three of the world’s highly influential central banks reduced their pace of increase in interest-rate hikes. These banks acknowledged that somewhat price pressures are easing but also stressed that inflation is still far from over. The Federal Reserve, Bank of England, and European Central Bank increased interest-rates by 50 basis points following previous increase of…
Federal Reserve authorities are determined to fight inflation and are expecting higher interest rates for some time ahead until the inflation is within the target range of Federal Reserve, as discussed in the Fed’s December meeting. Federal Reserve policymakers at its December meeting raised interest rate by half a percentage point, and expressed the necessity…
