๐จ Reminder: Bank of Japan interest rate decision approaches
Markets are watching for the Bank of Japanโs decision today, Friday, with widespread expectations that it will leave rates unchanged at 1.25% after raising them at its previous meeting.
๐ But the most important thing isnโt the hold itselfโitโs what the bank says about its next steps.
๐ Markets are expecting a more hawkish tone, with an almost 80% chance of a rate hike in December priced in.
โ ๏ธ Any hint of a near-term rate hike could support the yen and weigh on high-risk assets, including
$BTC and cryptocurrenciesโespecially if it leads to a reduction in yen-dollar trades, also known as the carry trade.
Letโs see whether Japan can save what can be saved, or deliver the coup de grรขce ๐
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