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

Japan’s core consumer inflation exceeded the Bank of Japan’s 2% target in September, the first time in nine months, with core CPI at 2.1% versus 1.7% in August. This boosts expectations for a December BOJ rate increase after it raised its policy rate to 1.25% in September, a 31-year high. The BOJ’s meeting ends October 30 and it is expected to hold, while analysts polled by Reuters expect a December hike to 1.50%. CME FedWatch data put an 80.5% chance on a higher Federal Reserve target range by December 9, while Bitcoin traded at $81,293, down 3.16% in 24 hours and 5.6% over the past month.