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Central Bank of Iceland Raises Interest Rate to 1.0%
May 19, 2021
The Central Bank of Iceland today became the first Western European central bank authority to raise its interest rate. During 2020, the monetary policy committee had slashed its policy rate from 3.0% to 0.75% in five incremental cuts. But a released statement after today’s scheduled meeting showed that officials are taking current 8-year consumer price […] More
New Overnight Developments Abroad - Daily Update
Bitcoin Disaster, Equities Fall Again, and Mixed Inflation News
May 19, 2021
The Bitcoin fallout from Elon Musk’s reversal on Tesla-for-bitcoin transactions has been huge. The cryptocurrency dropped over 20% overnight and at its intra-day low was showing a 43% loss over the past five weeks to its lowest level in 11 weeks. Wednesday’s been a difficult day for equity trading as well, with losses in the […] More
