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BOJ Announces 0.25% Interest Rate Hike, in Line
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The Bank of Japan (BOJ) announced a 0.25% rate hike to 0.75%, as expected, marking the highest level in about 30 years. It is anticipated that the mechanism for moderate wage and price increases is highly likely to be maintained, with the possibility of achieving the underlying inflation target of 2% on the rise. Underlying inflation continued to hike moderately, and companies are passing on wage increases to product prices, the BOJ stated. It is expected that companies will likely continue to steadily raise wages next year. Regarding the US economy and trade policies, related uncertainties remain, but their impact has diminished. Japan's real interest rates are expected to remain negative, and it believed that the loose financial environment will continue to support economic activity, the BOJ added. If the forecasts in the October Outlook Report are in line with expectations, the BOJ will further raise interest rates based on improvements in economic activity and prices. Following the announcement of the monetary policy decision, USD/JPY softened, and last ebbed 0.3% to 156.06 during the Asian session. AASTOCKS Financial News Website: www.aastocks.com |
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