Bank of Japan
Eight More Central Bank Meetings, a U.S. Current Account Report, and Downgraded Global Growth
September 19, 2019
Dollar movement overnight was mixed, with gains against the Australian dollar, kiwi, sterling, and yuan but losses relative to the yen, Swiss franc, euro, loonie and peso. The 10-year U.S. Treasury and Japanese JGB yields fell three basis points. Their German and British counterparts are respective a basis point higher and a basis point lower. […] More
European Economic Sentiment Stumbled in July
July 30, 2019
European share prices fell Tuesday, depressed by an unexpectedly large slide in economic sentiment in the euro area to a 40-month low of 102.7 in July. That’s down from 105.2 just two months earlier and 111.2 a year ago. Germany’s economic sentiment slumped 2.4 points between June and July. Two big factors are sapping the […] More
Japanese Monetary Policy Not Changed
June 20, 2019
Following its scheduled monetary policy review, the Bank of Japan left its stance unchanged but observed weak industrial production, export demand, housing, and expected inflation. Amid escalating global uncertainties and ahead of a planned domestic sales tax hike, BOJ officials flagged a rising possibility of more easing in the future, but the credibility of that […] More
Dollar Down on a Perfect Storm of Tensions Fraught with Uncertainty
June 20, 2019
The dollar lost 0.6-0.9% overnight against the euro, Swiss franc, loonie, yuan, kiwi, Australian dollar and Mexican peso. The greenback also has fallen 0.4% relative to the yen and 0.3% vis-a-vis sterling. The list of unknowns keeps lengthening. Iran shot down a U.S. surveillance drone, seemingly bringing another Middle East war closer. From Fed Chairman […] More
Bank of Japan Keeps Rates Policy Unchanged and Updates Forecasts
April 25, 2019
The third scheduled Japanese monetary policy review of 2019 coincided with publication of the quarterly Outlook for Economic Activity and Prices, in which the baseline projections have been updated for GDP growth and core CPI inflation (excluding fresh food and adjusted to exclude as well the effect of a 2-percentage point consumption sales tax due […] More
Stronger Dollar, Weaker Stocks, and Four Central Bank Meetings
April 25, 2019
The dollar advanced overnight by 0.4% against the yuan and peso, 0.3% relative to the euro, 0.2% versus the Swiss franc, sterling and Australian dollar, and 0.1% vis-a-vis the loonie. One currency against which the dollar fell was the yen, which climbed 0.3%. Share prices dived 2.4% in China to a 3-week low on continuing […] More
Bank of Japan Stance Left Unchanged
March 15, 2019
The latest Bank of Japan policy review as expected left targets for the overnight interest rate (-0.1%), the 10-year JGB yield (around 0%), and other quantitative elements of that central bank’s easy stance unchanged. In a released statement, Board members did downgrade their views of global growth and Japanese exports and industrial production, observing recent […] More
Muted Overnight Moves in Dollar but Share Prices Up
March 15, 2019
The dollar this Ides of March is unchanged from Thursday closing levels against the yen, loonie and Swiss franc. The dollar fell 0.2% against the euro, sterling and Australian and New Zealand dollars and by 0.1% versus the yuan. Share prices rose 1.3% in China, 0.8% in Japan, and 0.6% in Hong Kong and show […] More
Bank of Japan Board Cuts Projected Inflation but Leaves Monetary Stance Unchanged
January 23, 2019
This week’s two-day BOJ Board meeting ending today coincided with the publication of a new quarterly Outlook for Economic Activity and Prices. These reports convey changes in projected GDP growth and core CPI inflation, which excludes perishable foods. The table below compares the latest forecasts identified in rows labeled GDP-JAN with earlier ones made in […] More
Softer Dollar and Yen
January 23, 2019
The yen fell 0.4% against the dollar overnight on data news and the Bank of Japan’s downward revision of projected core inflation for fiscal 2018, fiscal 2019, and fiscal 2020. The Bank of Japan left its monetary policy unchanged and also revised growth downward in the current fiscal year ending March 31 . BOJ Governor […] More
