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October 26th - According to MaceNews, the Bank of Japan (BOJ) is expected to keep its policy rate unchanged at 1.25% at its October meeting. BOJ Governor Kazuo Ueda hinted that consecutive rate hikes are unnecessary, but the rate will have to rise further towards the neutral level. Board member Junko Koeda also stated last week that the central bank should not be overly cautious on the issue of rate hikes. MaceNews believes the most likely path is a rate hike to 1.50% in December or January, followed by a rise to 1.75% in March or April. This would continue the relatively rapid pace of rate hikes every three to four months. The committee is broadly divided into four camps. Hawks Hajime Takada and Naoki Tamura may begin pushing for the next rate hike on Friday, laying the groundwork for possible action at the December meeting. On the dovish side, Toshiro Asada and Ayano Sato have voted against recent rate hikes. On the data front, Tokyos October CPI is expected to show all three key indicators between 2.7% and 2.8%, partially reflecting the fading impact of local government fiscal support. September employment, industrial production, and retail sales data will also be released.The Philippine peso fell to a record low of 63.778 against the US dollar.Indonesian financial regulator officials are urging stock exchanges to involve independent third parties in determining lists of companies with high shareholding concentration.Indonesian financial regulators have urged stock exchanges to improve their methods for identifying lists of companies with high concentrations of shareholdings.An official from Indonesias financial regulator said: "We had constructive talks with FTSE Russell last Friday."

Crypto Assets Shed $800 Billion in Market Value in A Month

Skylar Shaw

May 11, 2022 10:34

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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