Following its last six significant rate increases in 2022, the US Federal Open Market Committee (FOMC) declared that it would push for another increase on December 14 with a 75% chance of doing so by 50 basis points.
The US releases its November inflation data, which will set the course for the Federal Reserve’s policy decision for the remainder of 2023, at the same time as the central banks of Europe and Great Britain announce their interest rate hikes. Consequently, today is the first day of “Super Central Bank Week.”
On December 12, the market value of all cryptocurrencies fell by 2%, to $877 billion. Ethereum is currently trading for less than $1,300, and Bitcoin is trading for less than $17,000.