View Single Post
Old 22-09-2023, 10:37
xtreamforex's Avatar
xtreamforex xtreamforex is offline
Level V Lasers Member
Join Date: Oct 2015
Posts: 528
Send a message via ICQ to xtreamforex Send a message via AIM to xtreamforex Send a message via Yahoo to xtreamforex
Default USD/JPY Targets 148.50 as Bank of Japan Holds Interest Rates Steady

USD/JPY rebounds from Thursdayís losses following the Bank of Japanís decision to keep interest rates unchanged. As expected, the BoJ maintained its current rates at -0.1%. During early European trading on Friday, the spot price is hovering around 148.30.

In a press conference after the September policy meeting, BOJ Governor Kazuo Ueda hinted at the possibility of ending yield curve control and adjusting negative interest rates when 2% inflation is within reach. He emphasized that the BOJís policy decision-making process remains unchanged, with careful analysis of new data at every monetary policy meeting.

Ueda also mentioned that inflation has not yet reached a stable 2% level and that the next monetary policy decision in October will consider data including the governmentís extension of gasoline subsidies. The Bank of Japan is prepared to implement further easing measures if necessary due to uncertainty in economic conditions, price trends, and currency and financial markets.

Japanís National Consumer Price Index for August showed a reading of 3.2%, slightly lower than the previous rate of 3.3%. The National CPI ex-Fresh Food remained consistent at 3.1% against expectations of 3.0%.

Read More : Daily & Weekly Analysis On Xtreamforex
Reply With Quote