Citing unnamed sources, the Nikkei Asian Review reported that a majority of Bank of Japan (BoJ) board members are expected to approve an interest rate hike at the bank's policy review meeting next week. However, some board members remain cautious about the move. Market reaction USD/JPY paused its rebound near 155.90 following these headlines.
Citing multiple unnamed sources, the Nikkei Asian Review reported on Friday, a majority of Bank of Japan board members is expected to approve an interest rate hike at the Bank’s policy review meeting next week. However, sources said that “some board members remain cautious of rate hike,” the Nikkei added. Market reaction USD/JPY paused its rebound near 155.90 following these headlines. At the press time, the pair is up 0.30% on the day at 155.75.
In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. How do Bank of Japan’s decisions influence the Japanese Yen? The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers.
BANK OF JAPAN INTEREST RATE HIKE MONETARY POLICY USDJPY JAPANESE YEN
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