Bank Of Japan Likely To Delay Further Interest Rate Hikes Until 2025, Ex-Official Predicts
Portfolio Pulse from Murtuza Merchant
A former Bank of Japan board member predicts that the central bank will delay further interest rate hikes until 2024, prioritizing market stability. This follows a significant rate hike in July, which impacted the Japanese yen and risk assets like Bitcoin.
August 12, 2024 | 11:33 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Bitcoin experienced significant volatility following the BOJ's rate hike in July, dropping from $65,000 to $50,000. It has since rebounded to above $58,000 as market sentiment stabilized.
The BOJ's interest rate decisions have a direct impact on global risk assets, including Bitcoin. The initial rate hike caused a sharp decline in Bitcoin's price, but it has since rebounded as market sentiment stabilized. Future BOJ decisions will continue to influence Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80