s from earlier are here:
Bank of Japan leaves rates unchanged, as expectedBank of Japan comprehensive review on past monetary easing stepsUSD/JPY jumps above 155.20 after BoJ votes 8 - 1 to leave rates unchanged againBut if you want a quickie rundown:
Interest Rates Held Steady: The BOJ kept its short-term policy rate unchanged at 0.25%, with an 8-1 vote among its board members.
Dissenting Vote: Board member Naoki Tamura, a policy hawk, proposed raising rates to 0.5%, citing rising inflationary risks. His proposal was voted down.
Future Rate Hikes Expected: Markets anticipate the BOJ will raise rates early in 2025, with most expecting a hike to 0.5% by March.
Economic Conditions:
Japan’s economy is recovering moderately, with some weaknesses.Consumption is increasing, but uncertainty around U.S. policies and slowing demand in China could weigh on growth.Annualized GDP growth slowed to 1.2% in Q3, with consumption rising a modest 0.7%.Inflation Trends:
Core inflation has fallen from a peak of 4.2% in January 2023 to 2.3% in October.Wage growth, currently at 2.5%-3%, is expected to continue amid labor shortages, supporting the BOJ’s gradual rate hike strategy.Market Reaction:
The yen initially fell to a one-month low against the dollar before recovering slightly.Investors are watching BOJ Governor Kazuo Ueda’s press conference for clues on the timing of the next rate hike.Background:
The BOJ ended negative interest rates in March 2024 and raised its policy target to 0.25% in July.Future hikes depend on wage growth and inflation aligning with the BOJ’s projections.***
Next up we will have the press conference from Bank of Japan Governor Ueda. This is due at 0630 GMT (0130 US Eastern time) and I expect Ueda to sound a hawkish note or two.
USD/JPY up
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about recapping the bank of japan monetary policy decision today rates unchanged again was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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