Abuja, Nigeria CNN — President Muhammadu Buhari on Thursday directed Nigeria’s central bank to reissue old 200-naira ($0.43) banknotes withdrawn just days ago as concerns grow that the botched introduction of new money could disrupt general elections later this month. Violent protests have erupted in recent weeks as millions of people struggled to get their … Read more
Sydney Reuters — Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, in a more hawkish policy tilt than many had expected. Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) also dropped previous guidance … Read more
London CNN Business — The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides towards a recession that could last two years. The central bank made its eighth interest rate … Read more
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — The Nobel in economics is sort of the step-cousin of the Nobel family. It came about nearly 70 years after its literature and sciences counterparts, in 1969, and is technically … Read more
London CNN Business — A week ago, the Bank of England took a stab in the dark. It raised interest rates by a relatively modest half a percentage point to tackle inflation. It couldn’t know the scale of the storm that was about to break. Less than 24 hours later, the government of new UK … Read more