Most cryptocurrencies gained ground on Thursday as the risk appetite rebounded ahead of important US inflation data.
The Federal Reserve remains cautious about amending interest rates, with a laser focus on bringing inflation towards 2%, while US consumer prices data for April are awaited next week.
According to the Fedwatch tool, there’s a 91.3% chance the Federal Reserve will maintain interest rates unchanged at the June meeting, and a 66.9% chance of no change in the July meeting, and a 49.7% chance of no change in September.
Similarly, the Bank of England announced no changes in interest rates today at 5.25%, remaining at 16-year highs for the sixth meeting in a row.
UK inflation registered 3.2% in March, still far from the 2% official target.
The BOE expects inflation to average 2.5% this year, down from 2.75% in previous forecasts.
At his post-meeting press conference, BOE Governor Andrew Bailey said that an interest rate cut before the upcoming general elections isn’t ruled out.
Ethereum
On trading, ethereum rose 1.2% today as of 21:12 GMT at Coinmarketcap to $3026.1.