EUR/JPY maintains its position near 165.50 during the Asian trading hours on Wednesday as the Japanese Yen (JPY) gained support from hawkish minutes of the Bank of Japan's (BoJ) most recent meeting.
EUR/JPY faces downward pressure following hawkish meeting minutes from BoJ. BoJ Meeting Minutes showed that members were largely in agreement on continuing to raise interest rates. Traders await PMI data for Germany and the Eurozone and speeches from ECB officials on Wednesday. EUR/JPY maintains its position near 165.50 during the Asian trading hours on Wednesday as the Japan ese Yen gained support from hawkish minutes of the Bank of Japan 's most recent meeting.
For the biggest central banks like the US Federal Reserve , the European Central Bank or the Bank of England , the mandate is to keep inflation close to 2%. What does a central bank do when inflation undershoots or overshoots its projected target? A central bank has one important tool at its disposal to get inflation higher or lower, and that is by tweaking its benchmark policy rate, commonly known as interest rate.
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