Home / Supply Chain News /Bank Of England Suspends Tightening Policy As Pound Nosedives — Central Bank To Start Purchasing Long-Dated UK Government Bonds

Bank Of England Suspends Tightening Policy As Pound Nosedives — Central Bank To Start Purchasing Long-Dated UK Government Bonds

28 Sep 2022

TRON is a layer-1 blockchain utilizing a delegated proof of stake consensus mechanism. Its eco-friendly network, low fees, and easy to use developer tools have allowed it to attain a massive amount of user growth and innovative projects.

Dave Uhryniak is the Director of Ecosystem Development at TRON DAO. He recently joined the Bitcoin.com News Podcast to talk about the technology:

 

Dave joined the TRON DAO in January 2022 and has become a highly visible part of the team that drives global expansion as they identify key opportunities across the blockchain industry and ensure the TRON ecosystem is positioned to thrive.

Involved in blockchain since 2016, Dave has provided strategic guidance for global payment companies and insurance companies, among others. He has led the successful development of multiple use cases in financial services, healthcare, and supply chain. He continually finds unique and creative ways to apply emerging technologies to enable corporations to achieve their strategic goals.

Dave began his career as an equity research analyst at a leading U.S. mutual fund company, where he conducted thorough bottom-up analysis of global and regional financial service companies. Dave has often been quoted in leading media outlets, including the Wall Street Journal, Forbes, Bloomberg, and other publications.

Dave is a Certified Blockchain Solution Architect, holds an MBA from Carnegie Mellon University Tepper School, and a BA from Westminster College (PA).

Among the interesting topics discussed in this episode are the recent CCRI report, that TRON is one of the top eco-friendly blockchains, and the TRON Grand Hackathon 2022 Season 3.

To learn more about the TRON network, check the latest developments on Trondao.org, Telegram, Discord, Reddit, GitHub, and Twitter.

The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play.

This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below.

 

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

TRON is a layer-1 blockchain utilizing a delegated proof of stake consensus mechanism. Its eco-friendly network, low fees, and easy to use developer tools have allowed it to attain a massive amount of user growth and innovative projects.

Dave Uhryniak is the Director of Ecosystem Development at TRON DAO. He recently joined the Bitcoin.com News Podcast to talk about the technology:

 

Dave joined the TRON DAO in January 2022 and has become a highly visible part of the team that drives global expansion as they identify key opportunities across the blockchain industry and ensure the TRON ecosystem is positioned to thrive.

Involved in blockchain since 2016, Dave has provided strategic guidance for global payment companies and insurance companies, among others. He has led the successful development of multiple use cases in financial services, healthcare, and supply chain. He continually finds unique and creative ways to apply emerging technologies to enable corporations to achieve their strategic goals.

Dave began his career as an equity research analyst at a leading U.S. mutual fund company, where he conducted thorough bottom-up analysis of global and regional financial service companies. Dave has often been quoted in leading media outlets, including the Wall Street Journal, Forbes, Bloomberg, and other publications.

Dave is a Certified Blockchain Solution Architect, holds an MBA from Carnegie Mellon University Tepper School, and a BA from Westminster College (PA).

Among the interesting topics discussed in this episode are the recent CCRI report, that TRON is one of the top eco-friendly blockchains, and the TRON Grand Hackathon 2022 Season 3.

To learn more about the TRON network, check the latest developments on Trondao.org, Telegram, Discord, Reddit, GitHub, and Twitter.

The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play.

This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below.

 

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, the Bank of England noted that it was monitoring the “significant repricing” of U.K. assets very closely.

The Bank of England (BOE) disclosed on Wednesday that it will start temporarily buying long-dated bonds and suspend the quantitative tightening tactics the central bank recently deployed. Two days ago, the U.K.’s native fiat currency, the pound sterling, slid to an all-time low against the U.S. dollar, and during the early morning (ET) trading sessions on Wednesday, the pound plummeted to 1.0541 nominal U.S. dollars per unit.

Yields on U.K. government bonds have skyrocketed in recent times and are suffering from the same volatility as U.S. Treasury bonds. The yields in the U.K. experienced the largest rise since 1957 and in a statement Wednesday, BOE said it was monitoring the situation very closely. “Were dysfunction in this market to continue or worsen, there would be a material risk to U.K. financial stability,” the BOE said on Wednesday. The U.K. central bank added:

“This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy. In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for U.K. households and businesses.”

The BOE’s actions follow a similar move by the Bank of Japan six days ago. After the Japanese yen slipped to a 24-year low, the Japanese central bank decided to intervene in foreign exchange markets. The yen rebounded following the intervention, and on Wednesday, the pound sterling also rebounded against the greenback after the BOE’s announcement to begin temporary purchases of long-dated U.K. government bonds.

At the time of writing, the pound is trading for 1.0661 nominal U.S. dollars per unit, down 0.61% during the last 24 hours. The BOE detailed that it plans to intervene “on whatever scale necessary” to “restore orderly market conditions.”

What do you think about the Bank of England intervening in U.K. bond markets? What do you think about the pound’s performance against the U.S. dollar? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

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