Bitcoin Faces 2 December Rate Hikes as Japan’s Inflation Clears the BOJ’s Target

Japan’s core inflation rose above the Bank of Japan’s (BOJ) 2% target in September for the first time in nine months. That strengthens the case for a rate hike in December, when the Federal Reserve (Fed) is also expected to move. The BOJ is expected to hold next week. Its guidance on further hikes, though, could set the tone for an already sliding Bitcoin (BTC). Price Pressure Spreads Past the Fuel Pump Core CPI, which excludes fresh food, rose to 2.1% from 1.7% in August, according to Reuters . An index that also strips out fuel rose to 2.4% from 1.9%. Goods prices rose 2.8%, up from 2.6% in August, even as rice prices fell 20.6%, CNBC reported . Services inflation picked up to 1.5% from 1.2%.

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