Bank of Japan's Rate Hike Sparks Yen Weakness and Bond Yield Rise
TL;DR Summary
Bitcoin surged above $87,000 following the Bank of Japan's rate hike to 0.75%, the highest in nearly 30 years, which caused the Japanese yen to weaken. The rate increase was expected and did not trigger a significant yen-buying response, as market participants anticipated continued low rates compared to the US. The move reflects Japan's ongoing shift away from ultra-loose monetary policy, with Bitcoin's price influenced by global market reactions and investor sentiment.
- Bitcoin (BTC) jumps above $87,000, yen slides as Bank of Japan hikes rates by 25 basis points CoinDesk
- The Bank of Japan Raised Rates. Here’s Why You Should Care. The Wall Street Journal
- Yen Weakens Despite BOJ Hiking Rate to Highest Level Since 1995 Yahoo Finance
- Japan’s 10-Year Bond Yield Hits 2% for First Time Since 2006 Bloomberg.com
- Bank of Japan Raises Interest Rates to Highest Level in 30 Years The New York Times
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