Russia’s digital ruble accounts top 220K in first month, nearly 4X central bank forecast
Cointelegraph ·
Cointelegraph reports: Early adoption of Russia’s central bank digital currency, the digital ruble, has vastly exceeded forecasts, with more than 220,000 accounts opened in its first month, offering an early test of whether CBDCs can move beyond pilot programs and gain real-world adoption. As Reuters reported Tuesday, Russian central bank Deputy Governor Zulfiya Kakhrumanova said the figure far exceeded the roughly 60,000 accounts officials had expected following the CBDC’s Sept. 1 launch.…
The Reserve Bank of India on Wednesday raised interest rates for the first time since 2023, joining several major central banks in tightening monetary policy to arrest accelerating inflation. The central bank increased the benchmark repo rate by 25 basis points to a 1-year high of 5.50%, in line with expectations of economists polled by Reuters. India’s ...
Ms Schnabel started her presentation with the observation that, since the Governing Council’s monetary policy meeting on 22-23 July 2026, euro area financial markets had continued to be driven by energy price developments, with market attention turning to the global rise in long-term yields amid a resilient euro area macroeconomy. Persistently high energy prices, reinforced by concerns about higher food price inflation, had pushed market expectations regarding the outlook for inflation and policy rates higher. Energy prices and futures curves had moved up owing to renewed US-Iran hostilities. In Europe, the focus had shifted from oil to refined products and gas. The price and futures curve of gas oil – a refined, diesel-type product – had moved up significantly, reflecting concerns about limited refining capacity. Similarly, European gas prices had risen to the highest level recorded since early 2023, and low European gas storage levels could put further upward pressure on gas prices. The recent heatwave in Europe and what could likely be a strong “El Ni�o” event had also added to concerns about upward pressure on prices, with international food prices rising significantly over recent months. ECB Accounts: It was particularly important to refrain from giving any guidance regarding the future interest rate path ECB Account: Risks were not all tilted in the same direction Ecb Officials: Policy Response Should Remain `proportionate'