Bitcoin made headlines this week, reaching an all-time high of $107,000 before dropping below $93,000. Central banks made key decisions, with the US Federal Reserve trimming its key interest rate by 25 basis points, as the Bank of Japan and the Bank of England kept rates steady.
Russian President Vladimir Putin delivered his annual end-of-year conference, declaring the country's economy "stable" despite external pressures. In South Korea, Han Dong-hoon, leader of the ruling People Power Party, resigned after President Yoon Suk-yeol's impeachment by the National Assembly. German Chancellor Olaf Scholz lost a no-confidence vote, dissolving Parliament and triggering February snap elections.
In other notable events, a 7.3-magnitude earthquake in Vanuatu prompted a Pacific-wide tsunami warning, while the EU launched a probe into TikTok over election risks and Albania announced plans to ban the app in 2025.
Russian General Igor Kirillov and his assistant were killed in a Moscow explosion, with conflicting claims about Ukrainian involvement. Meanwhile, a tragic attack in Magdeburg, Germany, left four dead as a driver deliberately crashed into a crowded Christmas market. Luigi Mangione was indicted for murdering UnitedHealthcare's CEO, and the US averted a government shutdown as Congress passed and President Joe Biden signed a funding bill.
Data showed the US economy grew 3.1% in Q3, Japan’s inflation rose to 2.9%, and Eurozone November inflation was revised down to 2.2%. SoftBank pledged a $100 billion US investment, later confirmed by President-elect Donald Trump.
