Saudi Arabia has joined a major BIS-led central bank digital currency cross-border trial, in what could be another step towards less of the world's oil trade being done in U.S. dollars. The move, announced by the Bank for International Settlements on Wednesday, will see Saudi's central bank become a "full participant" of Project mBridge, a collaboration launched in 2021 between the central banks of China, Hong Kong, Thailand and the United Arab Emirates. The BIS, a global central bank umbrella organisation which oversees the project, also announced that mBridge had reached "minimum viable product" stage, meaning it will move beyond the pro type phase.
According to a recent report from Freddie Mac, Millennials and Gen Xers are securing lower mortgage rates than baby boomers. Both millennials and Gen X secured mortgage rates averaging 4%, while baby boomers had slightly higher rates at 4.1%. The Silent Generation, which came before the Boomers, averaged mortgage rates of 4.3%. Gen Z, the youngest adult generation with the oldest members now age 27, are more likely to have bought their first homes during the recent surge in mortgage rates. Many
Prince of Wales says ‘we will always remember those who served and those who waved them off’