GBP/JPY recovers its daily losses and extends its gains for the third successive day, trading around 194.20 during the European session on Wednesday.
GBP/JPY recovers daily losses ahead of the US inflation report. The JPY depreciates due to uncertain expectations for BoJ's further rate hikes. The Pound Sterling receives support from the increased likelihood of the BoE to keep its rates unchanged at 4.75% in December. GBP/JPY recovers its daily losses and extends its gains for the third successive day,trading around 194.20 during the European session on Wednesday.
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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