IMF proposes revisions to BOJ easing Long-term interest rate guidance “flexibly”
The International Monetary Fund (IMF) in a statement released on the 26th proposed revisions to the Bank of Japan’s monetary easing. Long-term interest rates, which have been kept below 0.5%, were given flexibility to prepare for a situation in which inflation exceeds expectations. He also warned that interest rates could skyrocket if government debt continues […]
Bank of Japan does not rush to re-correct YCC, assessing the impact and effects of the December decision
The Bank of Japan is in the phase of assessing the impact and effects of the operational review of yield curve control (yield curve control, YCC) decided at the Monetary Policy Meeting in December last year, and does not see any need for further revisions at this stage. there is This was confirmed through interviews […]
Focusing attention on the dollar-yen exchange rate, ascertaining the movement of reversal selling
As the year-end market approaches, the volatility of the dollar-yen exchange rate is increasing. The reason for this is that the expansion of the YCC fluctuation range shocked the market at the Bank of Japan decision meeting on December 20. In the market, attention to the dollar-yen exchange rate is increasing ahead of the next […]
〇 The Bank of Japan will throw a stone during Christmas week, and be wary of the appreciation of the yen
The final Bank of Japan monetary policy meeting of the year had an unexpected result. The Bank of Japan, which had stubbornly maintained its ultra-easing stance in the face of global interest rate hikes, suddenly expanded the fluctuation range of the YCC from 0.25% to 0.50%. The announcement comes as each country is about to […]
The dollar/yen has fallen to the 134 yen level, and it is reported that the Bank of Japan may conduct an inspection and verification of monetary policy within the next year under a new system.
The dollar/yen has fallen to the 134 yen level. According to a person familiar with the matter, he reacted to reports that the BOJ may conduct inspections and verifications of monetary policy within next year under the new system. The dollar/yen temporarily widened its lows to the 134.54 level. The cross-yen pair also reacted to […]
BOJ foreign exchange intervention
Just before USDJPY152.00, there seems to have been another foreign exchange intervention by BOJ. USD selling is out, but I’m skeptical how far BOJ can push it back.
Watch out for sudden fluctuations in the dollar/yen due to intervention, but is there no change in the trend of a stronger dollar?
Along with the rise in US bond yields, the underlying trend of a strong dollar continues. Markets are pricing in rate hikes of 75 basis points each at the next two US FOMC meetings later this year. On the other hand, the BOJ’s stance of continuing monetary easing remains unwavering. Expectations of a widening interest […]
The conditions for the BOJ to continue easing and widen the interest rate differential have been met due to a significant increase in US interest rates.
The market situation of material shortage is likely to start at the beginning of the week. The US market will be closed due to the Juneteenth transfer holiday. It lacks clues such as US bond trends, making it difficult to move. It will be while watching the adjustment of the stock market. The difference in […]
The conditions for the BOJ to continue easing and widen the interest rate differential have been met due to a significant increase in US interest rates.
There were a series of important monetary policy meetings this week. The most noticeable was the US FOMC. Reflecting the upside of the US consumer price index last week, the market has factored in a 0.75 percentage point hike in advance. As a result, the interest rate was raised by 0.75 percentage points. However, the […]
FOMC, 75bp rate hike-July is likely to be 75 or 50bp and Fed chairman
At a regular meeting held on the 14th and 15th, the US Federal Open Market Committee (FOMC) decided to raise the main policy interest rate by 75 basis points (bp, 1bp = 0.01%). This is the largest rate hike since 1994. Federal Reserve Chair Powell has suggested that the July meeting will also raise rates […]