The interest rate is maintained at 4.50% per year.
The first Bitcoin movements after the data is known are down.
The American Federal Reserve (Fed) made its monthly update on interest rates.
It has been defined that There will be no changes in rates, at least for next month. These remain at 4.50% per year.
While – as cryptootics reported this morning – this was what the market expected, the first Bitcoin (BTC) movements were down, as seen in the following graph:
Apparently, Many investors and traders longed for a surprising cut in the interest rate (Perhaps they believed that, with Donald Trump under the command of the Executive Power, there would be changes in the FED policies), and they were disappointed when it did not occur.
Half an hour after the decision on interest rates, the president of the Fed, Jerome Powell, provided a press conference. There he said that “There is not too hurry to continue going down interest rates”.
In addition, he clarified that “as the economy evolves, they will adjust monetary policy considering the employment situation.” Powell pointed out: “If the labor market weakens more than expected, we could advance faster in interest rates.”
Finally, the president of the Fed emphasized the fact that reaching an annual inflation remains the objective.
As Powell spoke and said these things, Bitcoin’s price began to rise.
Anyway, Bitcoin still shows a clear bullish or bassist trend. Probably in the next few hours the ambivalent volatility is decreasing and the market is defined by an address.