Ethereum

Bank

Shift

Rally

FOMC

<ul>
 <li>Interest rates were lowered today because inflationary pressures have subsided.</li>
 <li>However, Interest rates were left steady at 5.25% the day before by the US Fed.</li>
</ul>
A 25-basis-point reduction in interest rates from 5.25% to 5.0% has been announced by the <a href="https://thenewscrypto.com/uk-inflation-hits-boes-2-target-potential-rate-cut-anticipated/" target="_blank" rel="noopener noreferrer nofollow">Bank of England</a>, marking a watershed event. The decision follows expectations, and the British central bank reportedly pulled off this U-turn with a razor-thin majority.
With this move, the wheels are in motion for more liquidity easing. Which is great news for Bitcoin and the whole crypto sector. Next month in September, the <a href="https://thenewscrypto.com/can-a-fed-rate-cut-in-september-drive-a-bullish-crypto-move/" target="_blank" rel="noopener noreferrer nofollow">Fed</a> is expected to make a similar decision.
<h3 class="wp-block-heading" id="h-inflationary-pressures-subsided">Inflationary Pressures Subsided</h3>
For the first time since the 2020 COVID-19 pandemic began, the Bank of England has decided to reverse its monetary tightening strategy. Especially, in response to rising inflation. We were able to lower interest rates today because inflationary pressures have subsided, according to BoE Governor <a href="https://www.bankofengland.co.uk/about/people/andrew-bailey/biography" target="_blank" rel="noopener noreferrer nofollow">Andrew Bailey</a>, who also voted in support of the rate decrease.
On the other hand, he assured the public that the Bank of England would exercise caution in its impending interest rate cuts. However, we must watch inflation closely and use caution while reducing interest rates. So as not to cause inflation to spike. He also said that the greatest way to promote economic development and national prosperity is to keep inflation low.
Interest rates were left steady at 5.25% the day before by the US Federal Reserve. But in his remarks after the FOMC meeting, Powell hinted at the prospect of a rate decrease in September of next month.
In response to the plummeting value of the yen, the Bank of Japan hiked interest rates earlier this week. In contrast, several countries’ central banks, such as Canada’s, have already reversed course and slashed interest rates early this year.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/will-ethereum-defy-the-bears-and-rally-in-august/" target="_blank" rel="noopener noreferrer nofollow">Will Ethereum Defy the Bears and Rally in August?</a>

Bank of England’s Interest Rate Cut Signals a Positive Shift

Table of Contents

TheNewsCrypto

Other articles published on Aug 1, 2024

Bitcoin ‘explosive move’ looms as Bollinger Bands reach tightest points

Investors See DOGE and RBLK Hitting 30 Cents Short Term; BCH On The Rise

Ethereum ETFs Could Reach $10B AUM In First Year Of Trading, Says Sygnum Bank Researcher

India Becomes Top Market for Meta AI, Says Meta Q2 Report

Interest Cools In AVAX and Toncoin (TON) While Revenue Sharing Rollblock Dominates Gains

BlackRock ETF Initiatives: Revolutionizing Investment Portfolios with Bitcoin and Ethereum

Join our free newsletter for daily crypto updates!