“The very nature of the technology itself – transboundary in structure and application – necessitates a global approach,” the final report from the UN Secretary-General appointed panel concludes. Artificial intelligence (AI) is transforming our world, from opening new areas of scientific inquiry and optimizing energy grids, to improving public health and agriculture and promoting progress … Read more
HSBC has worked with Quantinuum to trial “the first application” of quantum-secure technology for distributing tokenised physical gold. The HSBC Gold Token for retail investors in Hong Kong allows the bank’s customers to acquire fractional ownership of physical gold. Moving these tokens over financial networks requires encryption that cannot be broken by high-performance quantum computers … Read more
Working Paper No. 1055 | September 2024 The Relation Between Budget Deficits and Growth: Complicated but Clear This paper looks at the relationship between government budget deficits and the growth rate of GDP. While orthodox economic theory offers several reasons to believe that growing deficits might be associated with slower growth, and would ultimately be … Read more
3 min read Last Updated : Sep 18 2024 | 10:59 PM IST The share of low-cost deposits in the banking system, which is already on a downward slope, could decline further to touch the levels seen before Covid-19 due to the efficient cash management by the government as well as the corporate sector, … Read more
BSP, the Philippines’ central bank, has begun rate hikes to tackle the country’s highest inflation rate since 2018. After two 25-basis point bp hikes in May and June, the BSP raised interest rates by 75bp to 3.25% on July 14, a surprise move that signalled a more aggressive monetary policy to come. Felipe Medalla, who … Read more