The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Visa Inc. has teamed up with Coinbase Global Inc. to allow customers with eligible Visa debit cards to make real-time deposits into their Coinbase accounts, marking a significant development in the crypto space. This partnership enables instant fund transfers for users in the US and the European Union, allowing customers to take advantage of 24/7 trading opportunities, according to a statement released on Tuesday.
Eligible Visa debit card holders can now use their cards to purchase cryptocurrencies on Coinbase and cash out directly to their bank accounts, providing greater flexibility for crypto traders. The collaboration between Visa, which already powers the Coinbase debit card, and Coinbase aims to streamline the connection between traditional payment systems and the digital-asset sector.
The crypto industry has historically faced difficulties in integrating with traditional banking due to concerns over market volatility and industry scandals. However, as crypto regulations become more defined globally, including potential clarifications in the US under the next administration, the sector may see a reduction in these challenges.
Coinbase's latest quarterly results, set to be announced on Wednesday, are expected to show the impact of increased competition on its trading volumes, a key metric for Wall Street analysts.
Comments
Post a Comment