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On Wednesday, the U.S. Bureau of Labor Statistics published the Consumer Price Index (CPI) report, which noted that inflation rose 0.1% last month in March and 5% from a year ago. Annual inflation has dropped for nine consecutive months following the nine times the U.S. Federal Reserve raised the federal funds rate. U.S. Inflation Cools … Read more
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists … Read more
According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New … Read more
The Angolan central bank’s monetary policy committee (MPC) recently hiked the country’s benchmark interest rate from 15.5% to a record of 20%. The largely unexpected hike, which is one of the National Bank of Angola (NBA)’s attempts to curb inflation, marks the first time the benchmark rate has been increased since November 2017. Rising Inflation … Read more
Bitcoin use cases in African countries continue to expand with the latest one being its use as an alternative source of retirement income. On a continent plagued by high inflation and unstable currencies, bitcoin, which is decentralized and censorship-resistant, is seen “as a safer source to contribute to for retirement.” According to a local report, … Read more
The U.S. Federal Reserve has announced a significant policy change to push up inflation. Bitcoin is set to greatly benefit from this policy change. Not only the price of bitcoin could surge past $500K, but a number of companies have also begun moving their reserves into the cryptocurrency to hedge against higher inflation. Fed Officially … Read more
Zambian President Edgar Lungu fired the country’s central bank governor Denny Kalyalya last week sparking fears that government wants to end the institution’s independence. Kaylalya was immediately replaced by Christopher Mvunga who reportedly has close ties to the President. The abrupt decision, which sent shockwaves across Zambian financial markets, saw the country’s currency, the Kwacha … Read more
Crisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country. According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June. Citizens who have previously “watched their currency … Read more
For bitcoin idealists, the coming utopia for global finance stars bitcoin dismantling the fiat hegemony, empowering citizens to own their money without central bank mediation, and facilitating borderless trade. Credited to Satoshi Nakamoto Institute co-founder Daniel Krawisz, hyperbitcoinization is a term which describes bitcoin coming to dominate the global currency basket through mass adoption. Also … Read more
