The ABCs of CBDCs
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 30 August 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Turkey’s stock rally hits reverse as juicy interest rates lure savers out of the market, and the FT’s Polina Ivanova explains how Telegram is a lifeline for both Russian and Ukrainian troops and civilians. Plus, Cornell University’s Eswar Prasad says Thailand could open a window into how central bank digital currencies might be used in future.
Mentioned in this podcast:
Turkey’s blazing stock rally falters with high rates luring savers away
War unfiltered: how Telegram straddles the Ukraine fron tline
Thailand may tell us a great deal about the future of money
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Prakriti Panwar, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:08.0 | At Aquinore. |
| 0:10.0 | Hey guys, before we get to today's show, I want to give you a heads up that you won't be hearing |
| 0:17.4 | from me for a little while, and that's because I will be busy with this little one. |
| 0:24.0 | So I'm going to be on parental leave, but I can't wait. |
| 0:30.0 | I can't wait to be back in 2025, bringing you the news |
| 0:36.3 | you need to start your day. Good morning from the Financial Times. Today is Friday, August 30th, and this is your |
| 0:49.8 | FT news briefing. Investors are having a change of heart about Turkish equities, and |
| 0:56.0 | telegram has played a big role in the war in Ukraine. Plus, are Central Bank digital |
| 1:01.7 | currency a utopian dream or a dystopian nightmare? |
| 1:06.2 | I think it also does portend a potentially dark future where digital money starts being used as a tool not just of economic |
| 1:16.3 | policy but of social policy as well. I'm Mark Filipino and here's the news you need |
| 1:20.9 | to start your day. Turkey's stock market boom might be starting to wobble's index, the Bist 100 has fallen 8% so far this month. |
| 1:47.7 | It would be the end of a good run though, like really, really good. |
| 1:52.0 | The Bist 100 has more than doubled in dollar terms since |
| 1:55.2 | 2022. Stocks had been on a tear ever since inflation started to soar a couple of years |
| 2:00.8 | ago, investors turned to equities as a safe bet. |
| 2:05.2 | But now that market growth is unraveling, and it's all because of the Central Bank's |
| 2:09.3 | interest rate hikes. |
| 2:11.0 | In case you're wondering, rates are at 50%, that's about six times what they were last June. |
| 2:17.8 | So savers have calculated that they can get better returns elsewhere, and foreign investors are taking their gains and getting out of Ankara. |
... |
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