The Japanese Yen (JPY) reacted negatively after the Bank of Japan (BoJ) announced an end to its negative rate policy.
The Japanese Yen reacted negatively after the Bank of Japan announced an end to its negative rate policy. Economists at Commerzbank analyze Yen’s outlook. Bank of Japan delivers and still disappoints The BoJ actually raised interest rates for the first time since 2007. The short-term policy rate is now set between 0 and 0.1%.
Only if the BoJ hints at further rate hikes, which would indicate a real rate hike cycle, will the Yen benefit more. Anything else has been priced in after the statements of the past few weeks. While the BoJ did take a first step away from its ultra-expansive monetary policy, it was not a clear hawkish turn, but rather a dovish rate hike. The key now is likely to be inflation.
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