All Eyes on Interest Rates
As Central Banks around the globe start interest rate cuts, everyone is watching the U.S.
Rates In Focus. Western central banks are resorting to interest rate cuts for the first time in the post-COVID era, triggering investor optimism for the next large move up in crypto prices. What else happened this week in markets?
On Wednesday morning, the Bank of Canada (BOC) announced a reduction in its overnight interest rate target, a move immediately followed by identical policy actions from Europe, with both the European Central Bank and the Danish Nationalbank unveiling their own similar sized rate reductions on Thursday.
Although inflation continues to run slightly above policy makers’ long-term (and admittedly arbitrary derived) 2% target in Canada and Europe, central bankers cited increasing confidence that inflation will continue to ease and a better ability to project the future pathway of inflation in justifying their initial round of cuts.
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
