Bank of Japan leaves interest rates on hold
The Bank of Japan kept interest rates on hold overnight leaving the overnight call rate target at 0.5%. The Financial markets response was limited as the unanimous 9-0 vote was widely expected.
The Central Bank raised its key policy rate to 0.5% from 0.25% last month by an 8-1 vote, judging that the economy would stay on track for steady growth with prices seen in an uptrend. In the subsequent press conference Bank of Japan Governor Toshihiko Fukui said “the Central Bank will focus on economic and price movements in guiding monetary policy, but will also keep an eye on currency movements and recent rises in land prices”
Fukui also offered some comments on the recent volatility in financial markets saying this was a “healthy correction”
In the UK today all eyes will be on the release of the CPI number. The headline annual number is expected to drop slightly from the previous reading of 2.7% to 2.6% still well above the Bank of England’s 2.0% target level.
Falls in petrol and food prices are expected to offset rises in airfares following the increase of air passenger duty. Most economists will monitor this very closely for any clues as the Central Banks next move on interest rates.
The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.
The Central Bank raised its key policy rate to 0.5% from 0.25% last month by an 8-1 vote, judging that the economy would stay on track for steady growth with prices seen in an uptrend. In the subsequent press conference Bank of Japan Governor Toshihiko Fukui said “the Central Bank will focus on economic and price movements in guiding monetary policy, but will also keep an eye on currency movements and recent rises in land prices”
Fukui also offered some comments on the recent volatility in financial markets saying this was a “healthy correction”
In the UK today all eyes will be on the release of the CPI number. The headline annual number is expected to drop slightly from the previous reading of 2.7% to 2.6% still well above the Bank of England’s 2.0% target level.
Falls in petrol and food prices are expected to offset rises in airfares following the increase of air passenger duty. Most economists will monitor this very closely for any clues as the Central Banks next move on interest rates.
The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.
Labels: Bank of England, Bank of Japan, currency converter
posted by Wise Money @ 9:23 AM
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