Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The Bank of Japan intends to maintain a soft monetary policy


January, 04 2023
watermark Economic news

The governor of the Bank of Japan, Haruhiko Kuroda, said today that the central bank intends to continue to pursue a soft monetary policy in order to ensure the stability of inflation at the target level of 2% and wage growth.


This statement surprised the markets, as most economists expected a tightening of the central bank's policy against the backdrop of the highest inflation in a decade – at 3.7%.


In addition to his words about the PREP, Kuroda noted that this year the Japanese economy will grow strongly and steadily with the support of favorable financing conditions. Despite the fact that the uncertainties associated with inflation and the COVID pandemic remain.


In addition to these factors, another uncertainty was created by the sharp rise of the yen – after the announcement of proposals for the Bank of Japan to withdraw from an extremely soft policy. Against this background, the Japanese national currency rose to a maximum in seven months – 129 yen per US dollar.


The driver of the yen's growth was also the message that the Bank of Japan may in January raise the inflation forecast for 2023 and 2024 to close to the target level of 2%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.