The heavy favorite to be named the next head of the U.S. central bank has indicated he isn't against bitcoin, but isn't embracing
the idea of a central bank - issued digital currency.
He also floated
the idea of a central bank - issued flat digital currency as a workable alternative to private digital tokens and one that would also help to reduce the cost of printing notes.
However, he later mooted
the idea of a central bank - backed cryptocurrency.
The idea of a central bank cryptocurrency is certainly gaining momentum.
Not exact matches
Morneau also told reporters that while it's important that the
Bank of Canada remains independent, he is «open to ideas» on working with the central b
Bank of Canada remains independent, he is «open to
ideas» on working with the
central bankbank.
It will be easier to convince the public
of the
central bank's efforts to re inflate the world's third - biggest economy if they can easily measure jumps in the size
of the BOJ's balance sheet, supporters
of the
idea say.
Essentially the answers to these five questions summed up the totality
of Gross» recent
ideas and letters: The credit - fueled economy is running out
of steam, and
central banks can continue with their easing but doing so will distort the markets.
The
central bank is not keen on the
idea of cryptocurrencies however.
The
idea here is essentially to work out how to set up cross-border mutual - fund type structures to invest in bonds issued by regional governments and quasi-government authorities, and to show the way with a modest amount
of central bank money.
With the lessons
of 2008 still fresh, finance and
central bank officials have a better
idea of how to respond to a credit crisis.
He addressed the
bank's approach to virtual currencies (VCs) like bitcoin and the prospect
of a
central bank digital currency (CBDC), an
idea that has previously been floated in India.
Since a bankrupt
central bank sounds like a stupid
idea, the government has to bail it out to the tune
of $ 100m, which is the net loss to the fiscal authority.
Even the
idea of not only SNB but any
central bank considering an exit strategy for equity portfolios is the most unrealistic thing in current market environment.
Critics say delegating to the national
central banks would undermine the
idea of a single currency with a strong
central bank.
Option (e) remains extremely risky given the massive levels
of outstanding government debt (and potential for fiscal crisis) and therefore low in probability in our view, but the
idea came to the fore in investor consciousness after the BOJ held meetings with former FOMC Chairman Bernanke, credited for applying the
idea of «helicopter money» to deflation - fighting in
central bank policy.
The
idea was that politically independent
central banks would take control
of monetary policy from government treasuries that had become the de facto monetary policymakers during World War I and had created substantial inflation in many countries.
The
idea that a
central bank should have responsibility for financial stability has roots deep in the history
of central banking.
And I particularly play in the currency space and one
of the thing that's attractive there is the
idea that in eras where you have reckless
central banking there's huge distinction between reckless
central bankers and those who are engaged in reckless
central banking with abadon and as a result I think that there becomes some real value disparities from a currency standpoint as well.
MasterCard is open to the
idea of using future national digital currencies issued by
Central banks, according to co-Chairman
of Mastercard Asia / Pacific.
The
idea of a single financial regulator...
central bank independence... inflation targeting... free capital movement
He and a colleague first conceived
of an energy - backed asset in 2011 but couldn't make the
idea work without a
central bank.
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The main thing holding back our world from recovery, is no one wants to take losses from bad debt, and so
central banks extend a lot
of credit, as if those pointy - headed intellectuals have any
idea about how the economy really works.
But the
idea of having a
central bank presumes their ability to spot turning points, and take action.
Elsewhere in the world, the
idea of «going negative» has gone from
central banking taboo to just another unconventional policy tool, with
Bank of Canada governor Stephen Poloz opening the door to negative rates last December and U.S. Fed chair Janet Yellen saying in May that she isn't ruling them out.
One
of Bagehot's main
ideas was that during a crisis,
central banks should lend at a penalty rate without limit, and that would re-liquefy the marginal
banks in the system that just needed a little to get by.
The
idea was to explain how it is difficult to save for the future in a way that will transfer today's purchasing power to the future without diminution, particularly when you have a
central bank trying to stimulate the economy through the creation
of credit, and the nation as a whole is overindebted.
Implementing Dudley's
idea of targeting price levels requires the
Central Bank to be presented with the opportunity to let inflation run above its target level.
Canadians are feeling more and more comfortable with the
idea of taking on additional debt, and it's partially thanks to the
central bank's stance on low interest.
The
idea that Canada's economy can prolong its current expansion without fueling inflation has become a
central narrative for the
Bank of Canada.
Ideas of better world economic growth prospects and major
central banks tightening their monetary policies in the near futures have helped to sink the U.S. Treasury markets.
In 2015 Carbon Tracker presented the stranded assets / unburnable carbon
idea to a full meeting
of central banks and regulators at the Financial Stability Board meeting on climate change hosted by Mark Carney, effectively contributing to the creation
of the Task Force on Climate - related Financial Disclosures (TCFD).
While the World
Bank and other the development leaders have long recognized this imperative, U.N. climate officials have been slow to work more directly with the development community to integrate these
ideas into their strategies, for apparent fear
of distracting from the
central goal
of emissions reductions.
He did not reject the
idea of the adoption
of bitcoin by
central banks.
In December 2014, the governor
of India's Reserve
Bank Raghuram Rajan did not reject the
idea of bitcoin being adopted by the
central banks.
The Co-President Asia - Pacific division for MasterCard, Ari Sarker stated in an interview with the Financial Times that the company would be open to the
idea of using cryptocurrencies that have been issued by
central banks.
Governments and
central banks all over the world are gradually warming up to the
idea of leveraging the unique advantages offered by blockchain technology — low - cost transactions permanently recorded in tamper - proof distributed ledgers...
Adding to his Monday statements, Menon said that he would not exclude the possibility
of Singapore's
central bank issuing a cryptocurrency directly to the public, although he is not sure if it's a «good
idea».
The
idea of having
central bank cryptocurrencies was also discussed amongst the heads
of various
central and reserve
banks at the
Last month, the director
of the
central bank's Digital Currency Research Institute pitched the
idea of a state - run cryptocurrency as a means to stabilize the yuan.
Time not (yet) right for state digital currency While the BIS, the
central banks for
central banks, recently said that policymakers will likely have to consider whether it makes sense for them to issue their own digital currency at some point, most
central banks, including the Fed, the ECB, and the
central bank of Australia are not overtly enthusiastic about the
idea of creating a
central bank issued state cryptocurrency taking a wait - and - see attitude.
«The
idea of having a fiat - backed proxy
of central bank money issued on smart contacts for financial institutions to exchange liquidity globally seems a very powerful concept,» he said.
2018 could be the year cryptocurrency regulations are introduced in India, and although the authorities» contradictory signals make it hard to foresee what shape the regulations will ultimately take, the country's
central bank is said to be warming up to the
idea of cryptocurrency.
Officially, India's
central bank is cautious about cryptocurrency, though the
idea has been floated
of launching a new cryptocurrency in the RBI's domain.
According to the unnamed source, the new currency would at the same time abandon the
idea of decentralization and would be controlled by
central banks.