The price of Bitcoin (BTC) showed little reaction after the Bank of Japan (BOJ) maintained its reference interest rate without changes in 0.5% on Wednesday, a decision that was aligned with market expectations, since policy formulators evaluated the potential impact of US tariffs under President Donald Trump in the economy promoted by the export of Japan.
The BC highlighted the “high uncertainties” around commercial policies, with Governor Kazuo Ueda emphasizing the need to monitor how rates plans could be stirred through global and Japanese markets.
The decision is ahead of a meeting of the United States Federal Reserve, where the rates are also expected to remain stable as Trump’s tariff policies be large.
Monetary policy and yields of Japan bonds have often influenced BTC markets. A stronger yen and increasing yields tend to weigh on Bitcoin attracting capital to traditional assets, while a weaker or weakest supports the attractiveness of cryptocurrency as an alternative value store.
That said, when the bank increased the rates in January, the price of Bitcoin remained stable because the attention focused on possible policy developments under the residence of Donald Trump.
The Wednesday’s rate keeps under control of the yields of Japanese bonds, which limits the pressure on the price of Bitcoin.
