Bank of Japan Governor Kazuo Ueda was hospitalized for a liver cyst, missing the June 15-16 policy meeting where deputies presided over proceedings. The central bank was widely expected to hike interest rates to a 31-year high to counter yen weakness and inflation. Amidst this potential tightening affecting crypto markets, reports emerged of a peace deal between the US and Iran, potentially shifting geopolitical market dynamics.
The Bank of Japan enters a pivotal policy week with potential rate hikes to 31-year highs, while reports of a landmark US-Iran peace deal stir global markets.
Read the full storyThe leading cryptocurrency faces a macro test as potential Bank of Japan tightening threatens to reduce global liquidity and reset market leverage.
Deputy governors will lead the upcoming rate review as the central bank faces pressure to hike rates amid yen weakness and regional instability.