Central Bank Archives - Gifted Analysts

Cryptoassets as National Currency? A Step Too Far

By Aminu MusaPosted on July 27, 2021Posted in AgenciesTagged Assets, Bitcoin, Central Bank, Crypto, Digital CurrencyNo Comments

New digital forms of money have the potential to provide cheaper and faster payments, enhance financial inclusion, improve resilience and competition among payment providers, and facilitate cross-border transfers.

But doing so is not straightforward. It requires significant investment as well as difficult policy choices, such as clarifying the role of the public and private sectors in providing and regulating digital forms of money.

Some countries may be tempted by a shortcut: adopting cryptoassets as national currencies. Many are indeed secure, easy to access, and cheap to transact. We believe, however, that in most cases risks and costs outweigh potential benefits.

Taming Market Power Could (also) help Monetary Policy

By Abdulazeez KurangaPosted on July 21, 2021Posted in AgenciesTagged Central Bank, COVID-19, Economy, Expectation, Inflation, investment, Monetary PolicyNo Comments

Some central banks are currently debating whether to tighten monetary policy to fight inflationary pressures, after having eased decisively in response to the COVID-19 shock. In making such decisions, central bankers have to consider how much businesses and consumers will respond. The structure of the financial system and the future expectations of consumers and businesses are key drivers of how effective monetary policy actions will be. Yet there’s another, overlooked, driver: corporate market power.

Legally Speaking, is Digital Money Really Money?

By Adebisi SamuelPosted on January 14, 2021Posted in Africa & World EconomyTagged Asset, Central Bank, Currency, Digital, Law, LegalNo Comments

Countries are moving fast toward creating digital currencies. Or, so we hear from various surveys showing an increasing number of central banks making substantial progress towards having an official digital currency.

But, in fact, close to 80 percent of the world’s central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is not clear.

Monetary Policy for all? Inequality and the Conduct of Monetary Policy

By Joshua OlorunsaiyePosted on October 1, 2020Posted in AgenciesTagged Aggregate Consumption, Central Bank, Economic Theory, Inequality, Inflation, Monetary PolicyNo Comments

nequality in both advanced economies and emerging markets has been on the rise in recent decades. The COVID-19 pandemic has exacerbated and raised awareness of disparities between the rich and poor.

Central Banks’ Digital Currencies: To Cherish or Not?

By Adebisi SamuelPosted on July 2, 2020Posted in Africa & World EconomyTagged Analytics, Central Bank, Digital Currency, Facebook, Inflation, Libra, nairaNo Comments

Tech companies have done a lot to make cashless payments mainstream, and while the argument that the central bank should officially approve the adoption of digital currencies or regulate them is ongoing, the idea of central banks issuing fiat currencies is coming to the fore. The far-left maintain the opinion that digital currencies need no regulation, and on the far right is the belief that central banks should issue digital currencies: E-Dollar, E-Yen, E-Naira, etc.

How Different Countries are Responding to the Coronavirus Economy

By Abdulazeez KurangaPosted on March 23, 2020Posted in ArticlesTagged Central Bank, Coronavirus, COVID-19, ECB, World EconomyNo Comments

Around the world, central banks as well as governments are doing what they can as well to stimulate and protect their economies. The European Central Bank (ECB) announced an $820 billion stimulus plan which include buying government and corporate bonds and other assets, as well as pumping cash into financial markets deeply rattled by the […]

Why the Central Bank of Nigeria will Devalue the Currency in 2020

By Abdulazeez KurangaPosted on March 8, 2020Posted in ArticlesTagged cbn, Central Bank, Currency, Devaluation, External Reserve, Import, Oil Price, OPEC8 Comments

With the Coronavirus outbreak having its toll on business and economic activities, recently released trade figures as well as policies not having their desired effects, we believe that there will be an unexpected naira devaluation in 2020. This is why we explained our reasons in this article.

The Monetary Trilemma as it Relates to Nigeria

By Abdulazeez KurangaPosted on October 8, 2019Posted in ArticlesTagged Art, Central Bank, Monetary Policy Trilemma, Nigeria, Oshikoya, Temitope, Trininity, Unholy, Unholy TrinityNo Comments

Dr, Temitope Oshikoya examined the evolution of the trilemma indices in the context of the exchange rate, interest rate and capital controls management framework in Nigeria from 1960 to 2014.

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