Bank

United

Bitcoin

Rise

Coin

<ul class="wp-block-list news-points"> 
 <li>The BoK will watch the effect of the Fed’s decision on domestic markets and then decide monetary policy.</li> 
 <li>However, the officials are in support of introducing rate cuts in the fourth quarter.</li> 
 <li>Bitcoin might benefit from the rate cuts as investors look for more volatile assets.</li> 
</ul> 
The Bank of Korea (BoK) is possibly considering rate cuts, according to <a href="https://think.ing.com/snaps/the-bank-of-korea-stayed-on-hold-but-signalled-a-cut-ahead/#:~:text=For%20the%20three%2Dmonth%20forward,October%20rate%20cut%20has%20increased." target="_blank" rel="nofollow">reports</a>. Governor Rhee Chang Yong stated in a discussion that upcoming events like the United States Federal Reserve’s policy decision, Bank of Japan Governor Ueda’s testimony to Parliament, and the release of US labor data could cause significant market volatility. 
The report suggests that the BoK will not make any immediate changes but will closely watch the impact of these events on Korean markets before deciding. Interestingly, the Board’s policy stance currently leans towards rate cuts and monetary easing. 
Looking ahead to the next three-month policy discussion, four out of six officials at the Bank of Korea favor rate cuts, while the other two prefer to keep rates unchanged at 3.5%. With no minority vote during the meeting, it seems the BoK is heading towards rate cuts in October. The report also noted …
The post <a href="https://coinedition.com/bank-of-korea-rate-cut-speculation-fuels-bitcoins-rise/">Bank of Korea Rate Cut Speculation Fuels Bitcoin’s Rise</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bank of Korea Rate Cut Speculation Fuels Bitcoin’s Rise

Coin Edition

Other articles published on Aug 22, 2024

Marathon Digital Acquires $249M in Bitcoin Following $300M Senior Note Offering

BabyDogeCoin Launches Petition to Secure Binance Listing

Weekly Article Recap: 8/12-8/16

Coinbase Teases cbBTC on Base Network, Potential Rival to Wrapped Bitcoin

TRON Daily Revenue Tops $3.84M, Leaving Ethereum and Solana Behind

Why the Crypto Community Still Worries About Mt. Gox Collapse

Join our free newsletter for daily crypto updates!