The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
If you’ve got a few dollar bills in your wallet, you might want to inspect the greenbacks before you spend them. Some U.S. coin and currency collectors are reportedly willing to pay thousands of dollars for rare $1 bills that have a certain printing error made by the U.S. Bureau of Engraving and Printing. “It’s very rare … Read more
BUSINESSES WANT STABLE CURRENCY For now, some businesses told CNA the weaker rupiah is less of a concern than a stable currency, which would make planning easier. “If the rupiah is weak, for example 16,000 (against US$1), it is not a problem to us as long as it remains 16,000, (not 14,000 tomorrow and 17,000 … Read more
B.C.’s director of civil forfeiture has filed an unexplained wealth order in an attempt to seize a quarter-million dollars in cash, 45 gold bars, luxury watches and jewelry that were contained in a safety deposit box belonging to the co-founder of a notorious B.C.-based cryptocurrency exchange scam. Documents filed in B.C. Supreme Court say the items are the proceeds … Read more
Former crypto mogul Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in the 2022 collapse of FTX, which once was one of the world’s most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted on seven charges in November related to fraud and conspiracy. A jury found that Bankman-Fried … Read more
Laura Trott, Hunt’s deputy at the U.K. Treasury, has dismissed allegations of foul play as “an excuse to try and wriggle out of Labour’s disastrous £28 billion of unfunded spending.” But in truth Treasury ministers have always looked for ways to hobble their successors — especially in the run-up to an election. George Osborne, the … Read more
KUALA LUMPUR: Malaysia’s ringgit hit its lowest level since the Asian financial crisis on Tuesday (Feb 20), as emerging Asian currencies suffered against the dollar. In trade on Tuesday, the Malaysian ringgit fell nearly 0.3 per cent to almost 4.8 against the greenback, its worst reading since January 1998 during the Asian financial meltdown. The currency … Read more
Bulgarian Prime Minister Nikolay Denkov on Saturday said his country may fumble the January 1, 2025, target date to join the EU’s currency zone. The country’s target date to adopt the euro was “not sacred,” Denkov said during an appearance on the Bulgarian radio station Darik Radio. “What is sacred is not the date but … Read more
PARIS — France has destroyed and reminted 27 million coins after failing to ask the EU for design approval and then being told they didn’t conform. The Monnaie de Paris, the country’s mint, produced the 10, 20 and 50 cent coins with a new pattern in November but later discovered that the way the stars … Read more
BRUSSELS — Jacques Delors, who headed the European Commission between 1985 and 1995 and is seen as one of the most important architects of a European internal market and single currency, died on Wednesday, aged 98. A pivotal figure in reanimating the pursuit of a united Europe after World War II, Delors is best known … Read more
