Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The Bank of England lowered its key interest rate on August 4 to 0.25 percent from 0.50 percent. The central bank noted at that time that economic indicators "have all fallen sharply" and a similar sentiment was reiterated following its September meeting on Thursday.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
According to Bloomberg, although central bank members noted that recent economic data has surprised "slightly to the upside," their longer-term view of the "contours of the economic outlook" hasn't changed.
Policy members also suggested that if the outlook in November remains "broadly consistent" with last month when it introduced a new stimulus package, then a "further cut in bank rate to its effective lower bound" is likely.
The central bank could slash its rate to close to, but just above zero.
The next scheduled announcement on interest rates is set for November 3, and the central bank will also release at that time an updated forecast for inflation and growth.
The British pound shed around 0.20 percent following the bank's meeting and was trading at $1.3194 — roughly $0.04 higher than the post-Brexit low of $1.2798.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.