The post Bank of Japan keeps rates unchanged after core inflation firm to 2.8% appeared on BitcoinEthereumNews.com.

Key Takeaways BOJ keeps rates at 0.25% following a 2.8% rise in CPI. US Federal Reserve cuts rates by 50 basis points, contrasting BOJ’s policy. The Bank of Japan (BoJ) left interest rates unchanged at 0.25% on Friday after August core consumer prices, which came just a few hours before the central bank’s meeting, rose 2.8% year-on-year, government data shows. The decision was widely expected amid ongoing concerns that rising prices could negatively affect consumer spending. The Japanese central bank is cautious about raising rates further, as it could dampen economic activity and hinder the demand-driven inflation that it seeks to foster. Following the BOJ’s recent rate hike to 0.25% in July, there has been increased volatility in both the stock and currency markets. The central bank aims to assess the impact of this previous increase before making further adjustments, as abrupt changes could add more instability to the market. The BoJ’s latest decision to hold rates steady comes against a backdrop of shifting monetary policies from the US central bank. The US Federal Reserve lowered interest rates by 50 basis points on Wednesday, its first cut since more than four years ago when the Coronavirus pandemic broke out. Following the Fed’s recent rate cut decision, both Bitcoin (BTC) and the stock market have shown positive performance. Indexes rose across the board. For one of its best days of the year, the S&P 500 rose 1.7%, beating its last all-time high set in July. The Dow Jones Industrial Average rocketed 1.3% to break its own record set on Monday, while the Nasdaq composite gained 2.5%. Bitcoin (BTC) jumped close to $61,000 minutes after the Fed’s decision, then suddenly pulled back to around $60,500. However, it appears that the bulls were late to the party. Over the past 24 hours, BTC…

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Filed under: News - @ September 20, 2024 3:27 am