EUR/JPY continues its losing streak, drops below 142.60 as BoJ to consider YCC expansion – by Sagar_Dua24 EURJPY ECB BOJ YieldCurve Bonds
Wages are growing gradually in the Japanese economy and the headline inflation is expected to react to recent higher oil prices ahead. Analysts at Wells Fargo believe that the BoJ will take advantage of a tactical opportunity to further tweak its policy settings in Q4-2022, and are lean towards the October meeting in terms of timing.
. On Wednesday, S&P Global reported the Composite PMI at 53.7, higher than the prior release of 52.0 but remained short of expectations at 54.1, the highest in the past 10 months. S&P Global said in a statement, "Manufacturing production picked up slightly, but it was the service sector that had the strongest influence on March's accelerated upturn,” as reported by Reuters.
About interest rate guidance, ECB policymaker Boris Vujčić said on Wednesday, “The largest part of the rate-hiking cycle is behind us.” He further added, “To address core inflation, we might need to raise rates further.”
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