Breaking: US Federal Reserve Cuts Interest Rate By 25 Basis Point

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Breaking: US Federal Reserve Cuts Interest Rate By 25 Basis Point

The US Federal Reserve announced a 25 basis point (bps) rate cut following its November FOMC meeting. This development is undoubtedly significant, considering the impact it could have on the Bitcoin price and broader crypto market.

US Federal Reserve Announces 25 Bps Rate Cut

The US Fed cut interest rates by 25 bps today, just about two months after it cut them by 50 bps at its September FOMC meeting. This move from the US Central Bank provides a bullish outlook for the Bitcoin price, which is already hitting new highs.

Interstingly, similar to the US Federal Reserve’s decision, the Bank of England (BOE) announced a 25 bps rate cut earlier in the day. This decision from both central banks will likely open up a liquidity cycle, causing more money to flow into risk assets like Bitcoin and other cryptocurrencies.

Now, the crypto community will look forward to US Federal Reserve Chair Jerome Powell’s speech to see how dovish the Fed is. Positive remarks from him would suggest that the Fed could still cut interest rates at its December FOMC meeting.

The post Breaking: US Federal Reserve Cuts Interest Rate By 25 Basis Point appeared first on CoinGape.

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