As Sweden was the first European country to use cash for payments back in 1661 it’s unsurprising that it’s the first European country that wants to be cashless. This is why, for several years, I’ve been watching the regular speeches by Lars Nyberg, Deputy Governor of the Sweden’s central bank, the Riksbank, talking about eradicating the use of cash in Sweden.February 2003Cash is still the king. Given the rapid increase in the use of cards in Sweden, particularly in the late 1990’s, cash should have been expected to fall in importance. This, however, does not seem to have happened. The use of cash, measured as the ratio of the value of currency in circulation (M0) and GDP, fell during the first half of the decade, but have been fairly constant since then, lately even increasing somewhat.
The Bank of England (BOE) is widely expected to raise interest rates from record lows Thursday, but market participants will be closely watching for clues on what the U.K. central bank will do next. This will be one of the BOE’s most significant meetings in some time — not only because of the likely rate […]
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Authored by Tho Bishop via The Mises Institute,
In the end Donald Trump will get what he wanted, a “low interest rate person” who also happened to be a “Republican.”
Jerome Powell is expected to replace Janet Yellen …
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The Commerce Department said on Wednesday that construction spending increased 0.3 percent to $1.22 trillion. But August’s construction outlays were revised down to show a 0.1 percent gain instead of the previously reported 0.5 percent rise. Economists polled by Reuters had forecast construction spending unchanged in September. Construction spending increased 2.0 percent on a year-on-year […]
Auto sales numbers from Toyota
The numbers have been mixed so far.
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President Donald Trump plans to announce his choice for the next Fed chairman on Thursday, the day before he departs for a trip to Asia, a White House official said.The president is leaning toward picking Federal Reserve Governor Jerome Powell to lead the U.S. central bank, according to three people familiar with the the matter. […]
Crude oil drilling in Canada will increase next year, the Petroleum Services Association of Canada said in a report, adding that the increase in 2018 will be moderate, to 7,900 new wells, up from 7,550 wells this year. Alberta will account for the biggest chunk of the drilling increase, which will be the highest since 2014 and the oil price collapse. Still, the number of new wells expected to be drilled in 2018 is about a third lower than the number of new wells drilled during the year of the price crash, which, Reuters notes, highlights the slow…
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When it comes to making digital currency investments, it is essential to strike the perfect balance within your crypto portfolio, as this will help maximize potential investment yield while also minimizing possible losses. This is often accomplished by diversifying one’s portfolio, as investing in multiple digital currencies increases the odds of striking gold with any one of them, while also reducing the amount that you’re bound to lose when a coin drops in value considerably. When to diversify your portfolio? To kick things off, before making a crypto investment, it is important to determine whether you actually need to diversify your portfolio. The best means of
A significant drop in the ISM manufacturing PMI, but it remains robust. The figure fell from 60.8 to 58.7, lower than 59.6 expected. In any case, the number remains well above the 50-point threshold that separates expansion from contraction. The prices…
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SegWit2x is not wanted in Italy, a joint statement from the local community confirms.
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The post Italians De…