Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
The BOJ hiked the benchmark borrowing cost by 10 basis points, abandoning the prolonged negative interest rate policy.The new data-dependent BOJ could breed volatility and discourage the yen carry trades that are known to feed into risk assets.
The central bank voted to raise the benchmark interest rate to the 0% - 0.1% range, abandon the yield curve control program that puts downward pressure on global bond yields and stop purchases of exchange-traded funds and real estate investment trusts., the leading cryptocurrency by market value and a macro asset, extended losses following the BOJ’s rate decision, falling to under $63,000 during European trading hours.
According to MUFG Bank, BOJ governor Kazuo Ueda acknowledged that sticky domestic inflation and/or stronger economic growth could dictate more rate hikes. Essentially, the central bank’s future course of action depends on the incoming data as opposed to the previous six years when the bank's ultra-easy policy was on autopilot mode.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BoJ: A policy rate near 0.1% still leaves the Yen vulnerable in a low-volatility worldThe Bank of Japan (BoJ) has finally ended its eight-year reign of negative interest rates.
Read more »
A broken heart shatters your relationship only if you let it.Here's how you decide whether the relationship ends when your trust ends.
Read more »
Japan's first private-sector rocket launch attempt ends with explosion shortly after takeoffA rocket that was supposed to become Japan’s first from the private sector to put a satellite into orbit exploded shortly after takeoff Wednesday,…
Read more »
Japan ends negative interest rate policy in historic pivotJapan has ended its negative interest rate policy, marking a historic shift away from an aggressive monetary easing program that had been implemented to fight chronic deflation.
Read more »
George Norcross ends deal with Republic, the largest Philly-based bankNorcross blamed Republic’s failure to file financial reports from as far back as 2022 or schedule a promised shareholder meeting.
Read more »
Bank of Japan Exits Negative Interest Rate Policy but Remains SupportiveThe bank of Japan (BoJ) agreed that a virtuous cycle between wages and prices has been met, enabling an historic moment for the accommodative central bank. Yen weaker
Read more »