The minutes of the FED's monetary policy meeting held in June will be announced at 21.00 today, Turkey time.
As you know, the FED kept the interest rates fixed in June, but left the door open for two rate hikes during the year.
Markets will closely monitor the minutes of the meeting, which will be released today, and look for messages on what kind of monetary policy will be followed for the rest of 2023.
The fact that after the Fed's interest rate decision, a 50 basis point increase in interest rates was still on the table, it was not a picture expected by the markets. However, despite this, the appetite for risky assets was preserved and Bitcoin managed to rise above $ 30,000 again.
The minutes to be released today are expected to contain statements similar to those made by Powell in June. As the minutes are released, Bitcoin volatility is expected to rise as usual.
The June meeting is considered important, as it is the meeting that ended the Fed's interest rate hike cycle that started in November 2021. What FED members say when passing the interest rate and what they discuss about the future will be important for the markets.
The minutes are expected to include statements by some FED members that no further rate hikes are required. Because FED member Raphael Bostic said in a statement last week that the decrease in inflation continues and this trend will continue even if no further interest rate increases are made.
Today's minutes are expected to be similar to Powell's statements in June. Here are those explanations: