GBP/JPY extends its decline for the second successive day, trading around 184.20 during Monday’s European hours.
GBP/JPY continues to lose ground despite thin trading amid Japan ’s bank holiday. The Japan ese Yen receives support from the hawkish mood surrounding the Bank of Japan . The Bank of England is expected to hold rates steady at Thursday’s policy meeting. The Japan ese Yen finds support despite low trading volumes due to Japan 's Respect-for-the-Aged Day Bank Holiday. This downside pressure on GBP/JPY cross is likely driven by the hawkish sentiment surrounding the BoJ.
Interest rates FAQs What are interest rates? Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors. They are influenced by base lending rates, which are set by central banks in response to changes in the economy. Central banks normally have a mandate to ensure price stability, which in most cases means targeting a core inflation rate of around 2%.
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