SYDNEY, Jan 16 — Asian shares started cautiously today as investors waited nervously to see if the Bank of Japan (BOJ) will defend its super-sized stimulus policy at a pivotal...
SYDNEY, Jan 16 — Asian shares started cautiously today as investors waited nervously to see if the Bank of Japan will defend its super-sized stimulus policy at a pivotal meeting this week, while a holiday in US markets made for thin trading.
World leaders, policy makers and top corporate chiefs will be attending the World Economic Forum in Davos and there are a host of central bankers speaking, including no less than nine members of the US Federal Reserve. “There is still some possibility that market pressure will force the BOJ to further adjust or exit the YCC,” said analysts at JPMorgan in a note. “We can’t ignore this possibility, but at this stage we do not consider it a main scenario.”
The dollar has been undermined by falling US bond yields as market wager the Federal Reserve can be less aggressive in hiking rates given inflation has clearly turned the corner.
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