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Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

After seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central bank said it will introduce gold coins which will act as an instrument that will “enable investors to store value.” Discouraging Speculative Borrowing Monetary authorities in hyperinflation-stricken Zimbabwe reportedly plan to hike the benchmark interest rate to 200% per annum, one of the highest in the world. According to an official quoted by Bloomberg, this plan is expected to…

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