U.S. Central Bank to Announce New Interest Rate on Wednesday

On Wednesday, the U.S. central bank will announce the new interest rate, which has a significant impact on the cryptocurrency market. The current interest rate is between 3.5 and 3.75 percent. A higher interest rate can lead to less money in circulation and lower prices, while a lower interest rate can drive prices up. The cryptocurrency market hopes that the rate will not be increased, but recent economic data, including higher core inflation, has heightened fears of rate hikes. Politicians, including President Donald Trump, are pushing for a rate cut, while central bank chairman Kevin Warsh is known for his preference for strict economic policies. The market expects an 85 percent chance of a rate increase next week, which is likely to provoke a negative reaction from the cryptocurrency market. The interest rate decision will be announced on Wednesday around 8:00 PM Dutch time.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.