On 21 September 2022, the federal funds rate brings it to a range of 3% to 3.25%, the highest it’s been since 2008 announced by the FED during a news conference following a meeting of the Federal Open Market Committee (FOMC). It was the 5th increase in the interest rate this year. In this resolution in order to reduce US inflation since 1980, the employment rate tends to be increased which increasing the interest rate might also increase the recession as well.           The central bank signaled more raises to come, predicting rates would reach 4.4% by the end of the year and not start coming down until 2024. In addition, The Central bank around the world would raise interest rates sharply as they too attempt to attack the cost of living crisis.         This hike made the Baht weaken. On the same day, the Baht was recorded to depreciate in 16 years which is 37.34 THB/USD. Thailand’s finance minister says his country is in no hurry to

          On 5th September 2022, Binance announced that it to stop supporting USDC and other stablecoins on its platform. Binance would convert customers’ holdings of the USD Coin (USDC), Pax dollar (USDP), and TrueUSD (TUSD) into Binance USD (BUSD) on 29 September 2022, and customers transferring those tokens to the exchange will see them automatically converted into Binance’s stablecoin after that date. However, customers will be able to withdraw money denominated in USDC, USDP, or TUSD when removing money from Binance.           However, Circle CEO Jeremy Allaire on Tuesday 6, September tweeted a suggestion that the move might ultimately benefit USDC, as Binance customers will still be able to deposit and withdraw funds in the form of USDC, but they will not have to manually convert those funds into Tether or BUSD to participate in Binance offerings like margin trading.          Binance, The world’s largest cryptocurrency exchange, said the move was designed to “enhance liquidity and capital-efficiency for users.” Furthermore, Binance didn’t mention why the changes don’t involve Tether’s

          After the world faced the Covid-19 pandemic, the world economy keep shrinking. In addition, the invasion of Russia-Ukraine driving a high inflation hike to 13% and low growth is soaring energy bills. The Bank of England has announced that the interest rates rose to 0.50% which reaches 1.75%, this rate is the highest rise in 27 years. After that, the Bank of England warned the UK will get into a recession, the economy will be shrink in the last 3 months of this year and keep shrinking until the end of 2023.           On the next day, after the Bank of England warned that the UK will into recession, it will spend time on 5 quarters (2022 – 2023), the Pound depreciated to 0.25% which reach 1.213 dollars, and depreciation to 0.12% which reach 0.843 euro.           Moreover, the Bank of England forecasted that the level of inflation will hit 13.3% in October 2022, and in 2023 the inflation rate still is high for a whole year,

          Trading Economics reported the inflation rate in Laos hit 23.6% year-on-year in June, the highest since May 2000, establishing a surge in energy and consumer goods prices. The residents are struggling to challenge dizzying increases in the price of petrol, cooking oil, and other basic necessities. Furthermore, the Vientiane Times reported that the cost of living rose significantly including the cost of food, seasonings, non-alcoholic beverages, clothes, footwear, medicine, construction equipment, vehicles, spare parts, and other imported goods whereas the many low-income earners striving to afford basic necessities. According to the Lao Statistics Bureau, the highest surge in consumer prices in June this year was recorded in the communications and transport category, at 55.5 percent year-on-year.           In addition,  the smaller economies in which Laos has one of the highest inflation rates in the region, soaring fuel prices, and significant currency depreciation against the US dollar are creating pressure on inflation, particularly in Laos and Myanmar. The fuel price crisis has been possibly the most visible indicator of economic crisis, with