Japan Rates Hit Three-Decade High, But No ‘Meaning
#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTXCommunity4thAnniversary Japan Rates Hit Three-Decade High, But No ‘Meaningful Disruption’ to Crypto MarketThe Bank of Japan raised its benchmark rate to around 1%, its highest in over three decades.
Bitcoin and the broader crypto market held steady, even as traders appeared to have braced for a selloff.
A U.S.-Iran ceasefire had rallied crypto days earlier, softening the hike's blow.
Crypto markets held steady on Tuesday even as Japan lifted interest rates to a three-decade high amid rising domestic inflation.
The Bank of Japan’s policy board raised its benchmark interest rate to around 1% in a 7-1 vote, with the new guideline effective June 17. Policymakers flagged a risk of inflation rising above a 2% target as higher oil prices feed through to consumer goods, with further hikes expected.
A relief rally lifted crypto markets after President Trump announced a deal with Iran over the weekend, easing the tensions which the Bank of Japan had tied to rising oil prices. The deal moved Bitcoin above $65,000 from the low $60,000s. A signing is expected on Friday.
At time of publication, Bitcoin is trading around $66,000, down 1.1% on the day, per CoinGecko data. Traders on prediction market Myriad, owned by Decrypt’s parent company Dastan, remain predominantly bearish on its outlook, placing a 64% chance on Bitcoin’s next move taking it to $55,000Japan's economy has “recovered moderately” despite weakening factors tied to the Middle East, with strong corporate profits and a firmer job market cushioning the strain on activity, the central bank stated.
The country’s broader economy is expected to align with the “baseline scenario” for moderate growth, “albeit at a decelerated rate," the guidance reads, pointing at government measures to soften energy costs that could ease the risk of a sharp slowdown.
Tuesday’s quarter-point move to 1% lifted Japan's benchmark rate to its high
Tất cả bình luận0Mới nhấtPhổ biến