Canada doesn’t have many public banks. The best known, the Canada Infrastructure Bank, seems intent on privatizing critical public services instead of working towards the public good.
There’s no indication that handling cash increases your chance of catching COVID-19. But that hasn’t stopped countries around the world from looking at digital currencies.
As the governor of China’s central bank oversees the stability of the world’s second largest economy, this leadership change is one the global economy is watching closely.
All over the world people who have been harmed by the conventional money systems are devising alternative currencies, challenging the centralised monetary policy approach.
China’s interventions to cheapen its currency relative to others will hurt US imports in the short term, but the country’s surging “mainstream” will easily offset the impact.
The US may not like it, but by devaluing the yuan the People’s Bank of China has done what longtime critics of China’s currency policy have long been clamouring for.
Most of the new credit released after China’s central bank cut the required reserve ratio will be used to fund new investment in infrastructure and construction – and that’s good news for Australia.
China’s central bank surprised most observers last month when it announced its first interest rate cut in more than two years. The move is intended to bolster growth in the world’s second-largest economy…