đ The Bank of Japan (BoJ) decided to leave its interest rate unchanged at 0.25% after core consumer prices rose 2.8% year-on-year in August. The decision was widely expected amid concerns that rising prices could hurt consumer spending.
đ The BoJ is cautious about raising interest rates because it could dampen economic activity and hurt the demand-side inflation it is trying to boost. After raising rates by 0.25% in July, the BoJ wants to assess the impact before making any further adjustments.
đ Meanwhile, the US Federal Reserve (Fed) cut interest rates by 50 basis points, the first time in more than four years. This decision helped boost market values, with the S&P 500 index rising 1.7%, the Dow Jones up 1.3%, and the Nasdaq up 2.5%. Bitcoin also rose to nearly $61,000 shortly after the Fed cut interest rates.
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