In the euro zone cash is still preferred by consumers when it comes to making purchases, notwithstanding a great number of Western economies are quickly shifting to electronic payments. That’s what a poll issued by the European Central Bank revealed on Friday.
As follows from these figures, the euro zone happens to be one of the slowest among big Western economies in breaking up with old-school cash, trailing such countries as Great Britain, Australia, Canada and the United States.
Nearly 79% of point-of-sale transactions were carried out in cash in 2016, with the rate in Germany, the bloc's number one economy, at 80%, thus underscoring German unease as for the ECB's decision to remove 500 euro notes, a move widely considered to be a first step in drifting away from cash.
Having undergone devastating world wars as well as hyperinflation, economically conservative Germans are used to relying heavily on cash and even now still prefer traditional cash deposits.
On Thursday, American leader Donald Trump unveiled that he generally disliked the Fed’s decision to have interest rates lifted, telling that he was concerned about their probable impact on the American economy as well as American competitiveness…
Inflation data is the most important indicator that affects the central bank’s monetary policy.
Although yesterday the US dollar index closed at the low level comparing to the daily movement, today it has been moving up again.
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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