Two Central Banks Decide Interest Rates Next Week: What It Means for Bitcoin

The Federal Reserve (Fed) and the Bank of Japan (BoJ) both hand down interest rate decisions next week, two days apart. Bitcoin (BTC) enters the pair of events near $64,000.

Markets expect a hold in both cases. Doubt is concentrated in Washington, where about a third of pricing still favors a hike.

Fed Hike Odds Climbed as Oil Rebounded

The Fed has held its target range at 3.5% to 3.75% since December 2025. A hold on Wednesday would be the fifth in a row.

Pricing still moved quickly this month. CME FedWatch put the odds of a July hike near 38% on July 23. That figure stood at 12% a week earlier.

Oil drove that move. Brent crude settled above $100 a barrel on July 23, its first close above that level since May.

Odds have since eased to 34.2%. A hold, therefore, remains the majority outcome in futures pricing.

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June inflation data had pointed the other way. Consumer prices fell 0.4% on the month, cutting the annual rate to 3.5% from 4.2%.

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