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Bank of Japan keeps rates steady
- On Thursday, the Bank of Japan kept benchmark interest rates steady at 0.5% in its first meeting after Sanae Takaichi, Prime Minister, took power earlier this month as inflation stayed above the 2% target for 41 months.
- Amid earlier rate changes, the Bank of Japan lifted its main interest rate on July 31, reflecting Takaichi's support for Abenomics and loose monetary policy.
- Exports contracted for four straight months before rebounding, while the July 31 rate increase was only the second in 17 years, showing exceptional prior tightening by the Bank of Japan.
- The U.S. Treasury emphasised coordination by saying Scott Bessent, U.S. Treasury Secretary, met Satsuki Katayama, Finance Minister, and highlighted the need for sound policy and communication.
- Finance Minister Satsuki Katayama warned the yen's real value is about 120-130 against the dollar, about 26% stronger than around 152, while the 'Takaichi trade' weakened the yen and boosted the Nikkei 225.
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60 Articles
60 Articles
In the quarterly report on economic projections, the Bank of Japan, despite changing economic growth projections, maintained the remaining projections and warned against economic risks.
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Total News Sources60
Leaning Left6Leaning Right11Center14Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 19%
C 45%
R 36%
Factuality
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