For the first time, the Bank for International Settlements in its annual report has devoted a special chapter to cryptocurrencies. The BIS indicates that cryptocurrency technology cannot become a substitute for the existing solutions in the scope of issuing money.
One of the key issues in the economic debate across the world, and in particular in the developed countries, is the inadequate funding of retirement pensions. However, the fact that this problem is much more serious in the case of women has been overlooked.
Despite the good short-term prospects, the world economy will experience a slowdown, which may be accompanied by trade wars – these conclusions from the World Economic Outlook report set the tone for the IMF and World Bank spring meetings.
IMF economists point out that digital products and services are difficult to capture in economic statistics, which leads to an underestimation of GDP growth and an overestimation of the level of inflation in many countries.
The Joint Committee of European Supervisory Authorities (ESAs) analyzed the impact of large sets of data on consumers and financial institutions and concluded, that despite the potential risks arising from the use of Big Data, the benefits outweigh the potential costs.
Digital currencies issued by central banks could strengthen the effectiveness of monetary policy transmission, but at the same time they pose a threat to financial stability – writes the Bank for International Settlements (BIS) in its latest report.