Tag Archives: Bank of Canada

Cryptocurrency is growing in popularity amongst traders and investors, but according to a new report issued by the Bank of Canada, most people that own cryptocurrency don’t really understand it, and are simply getting involved as a means of taking part in a trend.Bank of Canada: Financially Illiterate People Are Likely to Get Involved in BTCThe report says that people who are financially illiterate are far more likely to hold cryptocurrency than those that have been investing or trading for a...

The $50 billion aid package offered by IMF is aimed at strengthening weak health institutions in the countries with emerging economies amid the coronavirus outbreak among other things.The IMF $50 billion aid package is intended to fight the coronavirus. This comes as countries are still spinning from the effects of the outbreak. For most of the developing countries, their responses to the epidemic seem to have been hindered by one thing only: money.Sources indicate that the Managing Director...

It has become known that United Kingdom premier Boris Johnson’s government has lost its first parliamentary votes since the snap general election because the House of Lords applied three defeats over Brexit legislation.The upper chamber voted in favor of giving physical documents as proof of their right to stay to EU citizens who live in the UK to be, once the country has left the bloc. On January 17, European Parliament Brexit coordinator Guy Verhofstadt said that the country will not...

According to a report out of The Logic, the Bank of Canada is preparing to run the gauntlet and potentially launch its own digital currency in the near future. Journalists secured access to a presentation dubbed “Central Bank Money: The Next Generation”. The paper was prepared for the central bank’s board of directors and its governor Stephen Poloz. If launched, the digital currency would work hand in hand with physical cash. The bank, however, plans to eventually scrap physical trading...