The European Central Bank (ECB) said on Wednesday it would harmonize how banks offer cryptoassets to ensure they have enough capital and expertise in a sector some European Union lawmakers have described as the Wild West.
CURRENCY
The euro’s tumble to parity against the dollar has pushed the European Central Bank back against a wall, leaving its policymakers with only painful and economically costly choices.
Turkey’s lira slipped 1.1% against the dollar on Tuesday to set a record closing low as concerns over rampant inflation were stoked by President Recep Tayyip Erdogan’s pledge to continue cutting interest rates.
President Recep Tayyip Erdogan called on Turkish citizens and companies on Wednesday to convert their foreign currency savings into Turkish lira, as Ankara seeks to boost demand for the local currency.
Turkey’s lira plunged more than 8% to new depths against the dollar and euro on Tuesday, capping a historical month of selling after President Tayyip Erdogan again endorsed aggressive rate cuts.
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