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JPY/HKD News
Forex Today: Japanese Yen Slides as BoJ Maintains Policy Settings
The Japanese Yen (JPY)stays under selling pressure on Friday as markets assess the Bank of Japan's (BoJ) monetary policy announcements.
Core inflation may accelerate, and the Bank of Japan is expected to raise interest rates further.
Economists expect that Japan's core CPI year-on-year growth rate in May may accelerate from 2.2% last month to 2.6%, which will lead to the Bank of Japan continuing to raise interest rates in the coming months.
The Bank of Japan kept interest rates unchanged and announced that it will not decide on reducing its bond-buying program until next month. The yen fell close to the "intervention range".
The Bank of Japan kept interest rates unchanged on Friday, but stated that the reduction in bond purchases will be announced at the July meeting, which in fact is delaying the process of normalizing monetary policy. On June 14, the Bank of Japan announced its latest interest rate decision, maintaining the benchmark interest rate at 0-0.1%, and the committee unanimously agreed on the interest rate resolution by 0-9, which was in line with market expectations. In terms of bond purchases, the Bank of Japan was "ambiguous," announcing a reduction in the amount of government bond purchases, but continuing to purchase bonds based on the March decision, and will announce a reduction in the bond purchase plan at the next July meeting, deciding on the purchase of government bonds for the next 1-2 years. The Bank of Japan stated that it will hold a "bond market"
Hong Kong's High Interest Rates May Persist Due to Uncertainty of Fed Rate Cuts
The Hong Kong Monetary Authority said high interest rates may remain for some time as it is uncertain when the US Federal Reserve will cut its interest rates, according to a Thursday press release by
Japanese Yen Remains Subdued Ahead of BoJ Policy Decision
The Japanese Yen edges lower as the BoJ is widely expected to leave interest rates unchanged on Friday
Chung Yuan Mortgage: The interest rate reduction cycle in Hong Kong may start from the end of this year to the first quarter of next year.
Wang Meifeng said that the interest rate reduction cycle in Hong Kong has the opportunity to start from the end of this year to the first quarter of next year, and then the interest rate in Hong Kong may fall to 4% or below.
Japan's Producer Inflation Hits Fastest Clip in Nine Months
The pace of gains in Japan’s producer prices quickened more than expected in May, registering the fastest clip in nine months, adding to signs of simmering inflationary pressure ahead of the Bank of Japan’s meeting this week.
Producer prices in Japan have increased at the fastest pace in nine months, adding to the accumulated signs of inflationary pressure.
Japan's producer price growth in May exceeded expectations, reaching the fastest growth rate in nine months, exacerbating signs of inflationary pressure on the eve of the Bank of Japan meeting this week. The Bank of Japan announced on Wednesday that the indicator measuring Japanese business input prices rose 2.4% year-on-year. This increase exceeded economists' expectations of 2%, mainly due to the increase in wind power surcharges. The price index rose 0.7% month-on-month, the largest increase in 18 months. The report showed that the cost of imported materials denominated in yen rose 6.9%, the largest increase since March last year, indicating that the yen-dollar exchange rate touched on April 29.
Japan's Producer Prices Climb 2.4% in May
Producer prices in Japan grew 2.4% year over year in May, faster than the revised reading of a 1.1% growth in April, marking the highest producer inflation rate since October 2023, preliminary data from the Bank of Japan on Wednesday showed.
Japanese Yen Declines as BoJ Is Expected to Maintain Its Current Interest Rates
The Japanese Yen edges lower as the BoJ is expected to maintain its current interest rates on Friday.
BOJ Could Stand Pat in June, Reduce JGB Purchase Pace Gradually -- Market Talk
The Bank of Japan may keep its short-term policy rate target unchanged in June, but is expected to come out with more communication around its Japanese government bond purchases, say HSBC Global Research economists in a note.
The prospect of the Bank of Japan's monetary policy is uncertain in the face of the difficult economic recovery.
The latest data shows that Japan's economy has shown almost no signs of a clear recovery, and its contraction is smaller than the initial estimate, which gives policymakers ample reason to continue to be cautious as the Bank of Japan considers the timing of its next rate hike.
Japanese Yen Loses Ground as Hawkish Sentiment Emerges Surrounding the Fed
The Japanese Yen (JPY) edges lower for the successive second trading day on Monday.
Japan Q1 GDP Contracts 0.5% QoQ versus -0.5% expected
Japanese Gross Domestic Product (GDP) for the first quarter (Q1) contracted 0.5% QoQ versus -0.5% expected and -0.5% prior, the Cabinet Office showed on Monday.
Japanese Yen Loses Ground Due to Decline in Japan's Foreign Reserves
The Japanese Yen (JPY) consolidates on Friday following the Japanese Foreign Reserves released by the Ministry of Finance for May, dropping significantly to $1,231 billion in May from $1,279 billion.
Most observers expect that the Bank of Japan will decide to reduce its bond purchase size next week.
More than half of the surveyed observers from Japan's central bank expect that the Bank of Japan will decide to reduce the scale of government bond purchases at next week's meeting.
Japan's Suzuki Says to Consider the Effectiveness of Intervention
Japanese Finance Minister Shunichi Suzuki said on Friday that he will take action against excessive currency volatility when necessary and will consider the effectiveness of intervention.
Japan's Households Boost Outlays First Time in 14 Months
Japan’s households boosted spending for the first time in 14 months in a sign that private consumption may finally stop exerting a drag on growth as central bank officials prepare to discuss policy next week.
Ueda Kazuo reiterated his determination to reduce bond purchases. The Bank of Japan may act as early as next week.
Recently, the Governor of the Bank of Japan, Haruhiko Kuroda, made a statement that strengthened the market's expectation of the central bank steadily reducing its assets and liabilities by nearly $5 trillion.
Bank of Japan official: Wage and inflation growth is still not significant, maintaining the current monetary policy is appropriate.
On Thursday, June 6th, Toyoaki Nakamura, a member of the Bank of Japan's Board of Directors, stated that he is not completely confident that wages and inflation will continue to rise, and believes that the bank's current monetary policy is appropriate for the time being. Nakamura said, "I don't have confidence in the sustainability of wage growth." "I believe that corporate governance reforms driving economic growth have not had a significant impact on small and medium-sized enterprises." Data released by Japan's Ministry of Labor on Wednesday shows that actual wages in Japan fell 0.7% year-on-year in April, the 25th consecutive month of year-on-year decline, but far below the 2.1% decline in March.