Tag: pound

Egypt to Develop New Currency Indicator to Wean People Off US Dollar

October 24, 2022
Business & MarketscurrencyEgyptianMarketspoundU.S. dollar
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CAIRO—Egypt will develop a new currency indicator partly to wean people off the idea that the Egyptian pound should be pegged to the U.S. dollar, the new central bank governor said on Sunday. Hassan Abdalla, appointed in August, told an economic conference that the central bank was also working to introduce currency hedging and had…

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Near Crash of Pound—A Warning of Global Crisis

October 12, 2022
Business & MarketsBusiness ColumnistscrashinflationOpinionpoundThinking About ChinaViewpoints
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Commentary The decline of the British pound has far-reaching implications for the global economy. The near crash of the British pound last month is just one of many such stories of declining currencies and central bank intervention taking place around the globe. It serves as a frightening harbinger of a major economic crisis to come….

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British Pound Falls Against the Dollar for the First Time Since March 2020 Due to Economic Slowdown

June 15, 2022
Bank of EnglandBusiness & Marketseconomic policieseconomyinflationinflation in the U.K.MarketspoundSterlingUKWorld
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The British pound dropped on June 15 to its lowest level against the U.S. dollar since March 2020. The plunge reflects concern about the widening gulf between interest rate policies at the Bank of England (BOE) and the Federal Reserve. The European Central Bank also made a surprising move, with the announcement that it will…

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Digital Pound Could Hit Financial Stability and Erode Privacy, UK Lawmakers Warn

January 13, 2022
Business & EconomycryptocurrencydigitaleconomyfinancialMarketspoundprivacystabilityUKWorld
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LONDON—A digital pound used by consumers could harm financial stability, raise the cost of credit and erode privacy, though a version for wholesale use in the financial sector demands greater appraisal, British lawmakers said on Thursday. Britain’s central bank and finance ministry said in November they would hold a consultation this year on whether to…

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