_bitcoin-soars-above-3671000-as-bank-of-canada-cuts-interest-rates-for-the-first-time-in-four-years.jpg "Bitcoin Soars Above $71,000, as Bank of Canada Cuts Interest Rates for the First Time in Four Years from canada com Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:38
👁 View: 900K times
✓ Published: 07-Jun-2024
👁 View: 900K times
✓ Published: 07-Jun-2024
Description:
The Bank of Canada cut its benchmark interest rate by 25 basis points, the first cut in four years. The price of Bitcoin rose above $71,000, its highest since March, settling around $70,900. Lower interest rates are generally good for risky assets like Bitcoin, as they make borrowing money cheaper and increase the money supply. The Bank of Canada governor said confidence in returning inflation to their 2% target has increased. The US Federal Reserve is expected to keep rates steady in June but cut by September according to market forecasts.
The Bank of Canada cut its benchmark interest rate by 25 basis points, the first cut in four years. The price of Bitcoin rose above $71,000, its highest since March, settling around $70,900. Lower interest rates are generally good for risky assets like Bitcoin, as they make borrowing money cheaper and increase the money supply. The Bank of Canada governor said confidence in returning inflation to their 2% target has increased. The US Federal Reserve is expected to keep rates steady in June but cut by September according to market forecasts.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_the-present.webp "After a very successful festival circuit, running on over 180 film festivals and winning more than 50 awards, we’ve decided that it’s finally time to share “The Present” with the rest of the world. nn“The Present” is based on a great little comic strip by the very talented Fabio Coala.nMake sure to check out his page: www.mentirinhas.com.brnn“The Present” is a graduation short from the Institute of Animation, Visual Effects and Digital Postproduction at the Filmakademie Baden-Wue")
_qualifying-highlights-124-2024-canadian-grand-prix.webp "FORMULA 1")
_battle-through-the-heavens-season-5-episode-100-eng-sub.webp "Battle Through The Heavens Season 5 Episode 100 ENG SUB")
_live-canadian-grand-prix-build-up-and-drivers-parade.webp "FORMULA 1")
_fp1-highlights-124-2024-canadian-grand-prix.webp "FORMULA 1")
_rory-mcilroy-hugs-sports-reporter-amanda-balionis-after-canadian-open-interview.webp "Rory McIlroy Hugs Sports Reporter Amanda Balionis After Canadian Open Interview")
_the-present.jpg)
_qualifying-highlights-124-2024-canadian-grand-prix.jpg)
_battle-through-the-heavens-season-5-episode-100-eng-sub.jpg)
_live-canadian-grand-prix-build-up-and-drivers-parade.jpg)
_fp1-highlights-124-2024-canadian-grand-prix.jpg)
_rory-mcilroy-hugs-sports-reporter-amanda-balionis-after-canadian-open-interview.jpg)
![[+]](/images/menu.gif){kind=small}