ECB Confirms Gold Dethroned the Euro as the Second Reserve Asset
A recent report by the ECB confirms that gold, following a significant rally in 2024, has become the second-largest asset held by central banks as a reserve. However, the U.S.…
Big Brother: Digital Euro Will Substitute Banknotes and Bank Deposits
The latest report from the European Central Bank predicts that the digital euro will replace a portion of the banknotes in circulation, fundamentally reshaping how Europeans use money. Bank deposits…
Euro Usage Tanks, Leading Decline Among Currencies on SWIFT Over the Last 10 Years
According to data released by SWIFT, the use of the euro as a settlement currency for international payments has fallen significantly. Its utilization share has decreased by 6.83% compared to…
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Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says
Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority…
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Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says
Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with…
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Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits…
Bitcoin Advocacy Group Illuminates ECB, Eurotower, Encouraging Adoption And Education
The “Bitman” collective advocated for Bitcoin adoption by illuminating the ECB building with the Bitcoin logo. The “Bitman” collective, a group advocating for the adoption of Bitcoin, illuminated the Eurotower…
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Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says
Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string…
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ECB to Decide Whether to Issue Digital Euro in 2023
The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year…
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Rate Hikes Needed to Reduce Eurozone Inflation Despite Recession, Top ECB Official Says
Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate…