Bank of Japan Rate Decision Looms as Yen and Bitcoin Move

Reports emerged that the Bank of Japan raised its policy rate by 25 basis points, leading to a rise in bitcoin prices quoted against the yen amid a weakening yen. However, the official decision document has not confirmed whether rates were increased or the extent of the hike. CoinDesk reported that after the Bank of Japan raised rates to a 31-year high, the yen fell and bitcoin rose against the yen. Yet, the Bank of Japan's official schedule shows a monetary policy meeting on September 17-18, making it difficult to confirm the reports as official decisions. The Bank of Japan will determine the rate decision and its impact on the yen and bitcoin prices after further verification with the official announcement and timing.