Bitcoin maintains $40K support as Fed confirms rate hike in 4 years
The Ukraine war is high on the Fed's list of concerns, according to a statement released with the 0.25% rate hike. Bitcoin (BTC) held $40,000 on March 17 after an anticipated key interest rate hike from the Federal Reserve delivered a strong response.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFed singles out Ukraine war in inflation commentsData from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to local highs of $41,500 after the Fed announced it would raise rates by 25 basis points to 0.5% — the first such move since 2018.The Federal Open Market....
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The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth in spending and production.” U.S. Central Bank Hikes the Federal Funds Rate by 75bps While U.S. president Joe Biden hosted an event called the “Infrastructure Talent Pipeline Challenge,” the country’s central bank increased the FFR once again by 75bps on Wednesday.....
The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is....
The much-anticipated Fed rate hike is now out and, as expected, dealt a heavy blow to the broader crypto market on Wednesday. The U.S. Federal Reserve increased its policy interest rate by three-quarters of a percentage point, extending it to a range of 3 to 3.25 percent. This number represents a huge increase from March, when […]
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the country’s runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis points. Following the latest....
Polls suggest that the Fed is likely to raise rates by 75 basis points as Bitcoin price clings to $19,000. Bitcoin (BTC) underwent a weak rebound on Sep. 21, and the U.S. dollar jumped to a new yearly high as investors await today's Federal Open Market Committee's interest rate decision.BTC price hold $19K ahead of Fed decisionBTC's price has managed to cling on to $19,000 with a modest daily gain of 1.33% . Meanwhile, the U.S. dollar index (DXY), which measures the greenback's strength versus a pool of top foreign currencies, rose to 110.86, the highest level in twenty years.BTC/USD vs.....