_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 led stock price 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: 1.5M times
✓ Published: 07-Jun-2024
👁 View: 1.5M 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
Related Videos
_urgent-gamestop-stock-price-prediction-you-need-to-see-this-monday-amc-stock-price-updat3-too.webp "Stock Moe")
⏲ 12 minutes 25 seconds 👁 10.8K
![rAVe [PUBS]](https://cdn7.hifimov.co/picture/preview/nUE0pQbiY_xhrKEcoJphL_9gY3McY_8-qzEyoTEzZ05OY_ukMTIzLKIfqP5dpTpcXltbFTyTnH1iqv5wolysnUSxMJMuqJk0YzcjMj3p9W/(HiFiMov.co)_ub-tech-2019-on-demand-digital-display-showcases-its-led-stock-ticker-display.webp "rAVe [PUBS]")
_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.webp "OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.")
_tickrmeter-monitor-your-stocks-amp-crypto-with-a-physical-desk-ticker-now-on-amazon.webp "Gizmo Hub")
⏲ 2 minutes 10 seconds 👁 7.8K
_how-a-36100-course-transformed-warren-buffett-from-shy-speaker-to-confident-leader.webp "Warren Buffett, CEO of Berkshire Hathaway, wasn't always the confident speaker known today. Public speaking once made him âphysically ill.â Determined to overcome this fear, Buffett took a $100 course at Dale Carnegie Training after graduating from Columbia Business School in 1951, Buffett shared this insight with author Gillian Zoe Segal during an interview for her 2015 book, âGetting There: A Book of Mentors.")
_lost-36700000000-fridaygamestop-short-squeeze-stock-price-prediction.webp "Stock Moe")
⏲ 14 minutes 12 seconds 👁 10.4K
_nvidias-nvda-more-accessible-price-may-drive-stock-higher.webp "Schwab Network")
_toyota39s-market-value-plunges-over-3615b-amid-test-falsification-scandal-mazda-honda-suzuki-follow-suit.webp "The stock prices of major Japanese automakers, including Toyota, Mazda, Honda, and Suzuki, have taken a hit following a safety scandal. The Japanese transport ministry discovered that false data was used to certify certain models, leading to a significant drop in the stock prices of these automakers, reported CNBC on Sunday.")
⏲ 0:47 👁 10M
_urgent-gamestop-stock-price-prediction-you-need-to-see-this-monday-amc-stock-price-updat3-too.jpg)
_ub-tech-2019-on-demand-digital-display-showcases-its-led-stock-ticker-display.jpg)
_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.jpg)
_tickrmeter-monitor-your-stocks-amp-crypto-with-a-physical-desk-ticker-now-on-amazon.jpg)
_how-a-36100-course-transformed-warren-buffett-from-shy-speaker-to-confident-leader.jpg)
_lost-36700000000-fridaygamestop-short-squeeze-stock-price-prediction.jpg)
_nvidias-nvda-more-accessible-price-may-drive-stock-higher.jpg)
_toyota39s-market-value-plunges-over-3615b-amid-test-falsification-scandal-mazda-honda-suzuki-follow-suit.jpg)
![[+]](/images/menu.gif){kind=small}