Live updates: Bitcoin steady as Japan holds rates at 1%, keeping the yen carry trade alive
The Bank of Japan left its benchmark at 1% and Governor Ueda's hawkish signals landed softly, since markets had already priced an October hike. Bitcoin held near $64,000.
Source: CoinDesk
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DW NOTE
The BOJ held rates at 1% while the yen carry trade — which funds risk asset purchases with borrowed yen — remains intact. Governor Ueda tried to sound hawkish on inflation, but the yen gave back its gains within his own press conference, which tells you everything about the bank's actual credibility. Markets priced in an October hike before he spoke, and they still price it in afterward, which means nothing changed except the pretense.