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US FED
Bitcoin and many crypto assets fell for a fourth straight day as investors continued to be perplexed by economic indices and business earnings reports.
Here is a compilation of this week’s notable happenings in the Nigeria macro-economic space, markets, regulators as well as in other world economies.
Bitcoin and many altcoins plunged along with treasuries as traders are concerned that officials may struggle to control inflation amid the threat of recession.
A stronger dollar is expected to force the naira to plunge below N600/$ due to the US Fed’s hawkish stance and the bullish momentum of the dollar index.
A rate hike or tightening is a signal that the United States Federal Reserve (Central Bank) want to cut back on the monetary expansion that has ensued since the global economic crisis of 2008.