Bank of Japan may speed up rate hikes. Will it help or work against bitcoin?
The post Bank of Japan may speed up rate hikes. Will it help or work against bitcoin? appeared on BitcoinEthereumNews.com. The Bank of Japan (BOJ) may raise its benchmark interest rate rapidly this year, as the yen slides, eventually pushing it above 2%. That’s the latest warning from a former Bank of Japan official Tsutomu Watanabe, an economics professor at the University of Tokyo who left the central bank in 1999, according to Bloomberg. As of now, the official rate is at 1%, the result of recent hikes, and the 10-year benchmark government bond yield hovers above 2.8%, the highest in at least three decades, according to data source TradingView. Meanwhile, the Japanese yen continues to slide despite recent hikes and hardening Japanese government bond yields. It has depreciated by 60% to 162.36 per U.S. dollar since early 2021, a major decline for one of the most traded currencies in the world. Also, it has dropped 3% so far this year. Faster potential interest rate hikes by the BOJ m