Bank of Japan, Fed Rate Hikes Expected Same Week: Will Yen Rally?
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The Fed raised US rates by 25 basis points for the first time since July 2023, and Wall Street reacted nervously. Now the focus is on the Bank of England, which decides today, and on the Bank of Japan, meeting from today with a verdict expected tomorrow. International economy / Federal Reserve, Bank of England, Monetary policy, Interest rates, Bank of Japan, Central banks
According to ChainCatcher, Mitul Kotecha, Head of Asia FX and Emerging Markets Macro Strategy at Barclays, stated that the Federal Reserve's rate hike decision makes a rate hike by the Bank of Japan almost inevitable. The yen has depreciated by more than 1.1% since the Fed's decision, while the US dollar has appreciated by 0.7% against major trading partners' currencies.
TOKYO: Japan's Nikkei Stock Average was generally flat on Wednesday, pending minor economic indicators and decisions from major central banks. The Nikkei Stock Average fell 0.03% to 63,462.01 in early morning trading, and is expected to fall for 4 consecutive days. Meanwhile, the TSE stock price index rose 0.79% to 4,069.02, and remained steady even after reaching the intraday high of 4,072.31. Investors have maintained a cautious stance ahead o…
Bank of Japan, Fed Rate Hikes Expected Same Week: Will Yen Rally?
Traders are bracing for a rare stretch of synchronized tightening this week, with the Federal Reserve and the Bank of Japan (BOJ) both leaning toward a rate hike within 48 hours of each other. The Fed announces its decision Wednesday afternoon, with futures markets pricing an over 80% chance of a...
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