This week is Super Central Bank Week: 4/28 Interest rate meeting 4/30 U.S. interest rate meeting, EU interest rate meeting Faced with potential energy inflation and fluctuating war expectations, it's pretty much certain that all central banks will adopt a neutral stance—especially with Powell about to step down. Despite inflation expectations being significantly revised upward and unemployment rates remaining stable, central banks have kept their interest rate forecasts unchanged. Not a single central bank has confirmed a significant rate hike, so the overall yield curve has actually shifted downward over the past month. Real interest rate = nominal interest rate - inflation expectations. Across the financial market, real interest rates are declining. To outperform inflation expectations, you need to look for assets with higher yields than bonds. Capital is gradually increasing its risk appetite. After this week's interest rate meetings, my personal view is bullish on interest rate-sensitive assets like gold + $BTC. The current rate environment is already set up for real interest rates to continue declining unless the war ends.