Two events in the last fifteen years have fundamentally altered the way the financial system operates—and neither was planned by global policymakers. The great crash of 2008 stopped banks from […]
Many observers argue that the imminent arrival of central bank digital currency (CBDC) could herald the biggest shake-up to the world’s monetary system for nearly a century. But, say the […]
Most of us are so used to the concept that saved money grows by earning a positive rate of interest that the idea of negative interest rates comes as a […]
When trying to stimulate economies by imposing negative interest rates, central banks run into a problem: they can’t stop money leaking out of the banking system and into cash. Around […]
Despite the rapid rise of digital payments, cash isn’t on its way out yet. That’s the key message from the Bank for International Settlements (BIS), which published its annual ‘Red […]
If you want to get regulators onside to launch a new global payments technology, there’s one place in particular where you need to plead your case. It’s Basel in north-west […]