The Bank of Japan (BOJ) maintained its ultra-loose monetary policy settings, keeping its negative interest rate at -0.1% and the 10-year Japanese Government Bond (JGB) yield target at around 0%. The BOJ expects the Consumer Price Index (CPI) to rise above 2% through fiscal 2024. Following the policy announcement, the dollar/yen rose over 0.4%, and the yen fell 1% against the dollar. This decision was widely anticipated and underscores the central bank's stance to continue monitoring economic conditions, particularly whether wages will rise sufficiently to sustain inflation around its 2% target. Despite some market expectations for a policy shift, the BOJ offered no clear guidance on when it might end the negative interest rate policy. Japan's Economy Minister Yoshitaka Shindo attended the policy meeting, marking the first such attendance by a cabinet minister since April 2020. The yen weakened following the announcement, while Japanese shares rose. BOJ Governor Ueda emphasized that the bank would not rely on a single data set for policy direction and is open to additional easing measures if necessary. The decision comes amid high uncertainties, including the impact of the US Federal Reserve's potential rate cuts on Japan's economy. The BOJ's hold on policy also influenced Asian markets, which traded mixed, and European shares, which rose as dovish BOJ sentiment bolstered rate cut bets. Additionally, Japan's exports slipped by 0.2% year-on-year in November, indicating a potential slowdown in the economic recovery.
Yen falls after Bank of Japan sticks with negative interest rates https://t.co/MTFGpWc0v8 Β«Governor Kazuo Ueda acknowledged that the prospect of achieving its inflation target had improved, but cautioned BoJ was not ready yet to map out an exit from ultra-loose monetary policyΒ»
European shares rise as UK, German inflation data bolster rate cut bets https://t.co/ebMocO5OeT https://t.co/PPN4QxLS2j
Japanβs exports slipped lower for the first time in three months in November, in a fresh sign that the economic recovery is sputtering https://t.co/Bt12NmsmQs
British stocks lead gains in Europe as latest data shows inflation slowed far more than expectations https://t.co/XmGUu3KEWE https://t.co/asmEvJvjAH
British stocks lead gains in Europe as latest data showed inflation slowed far more than expectations https://t.co/xVS5Zkxh0e
British stocks lead gains in Europe as latest data showed inflation slowed far more than expectations https://t.co/YP2ZkaZxGZ
British stocks lead gains in Europe as latest data showed inflation slowed far more than expectations https://t.co/C5IF9sTkVY
Stock market today: Asian shares gain after Wall Street ticks higher amid rate-cut hopes https://t.co/KZP7AbLd2A
European markets head for higher open; UK inflation data ahead https://t.co/aaeNXfDO59
Asian shares rise as US rate cut fever lingers, oil holds gains https://t.co/eEvfneDrOY https://t.co/eG7FgPf2eG
Japanβs exports slipped lower for the first time in three months in November, in a fresh sign that the economic recovery is sputtering https://t.co/vB6m3ittPE
Asia markets gain, Japan stocks extend rise on dovish BOJ https://t.co/qs3r6psqoD
Japanβs exports slipped lower for the first time in three months in November, in a fresh sign that the economic recovery is sputtering https://t.co/kpV7tCyuNu
*JAPAN NOV. EXPORTS -0.2% Y/Y; EST. 1.4% time to weaken the yen some more
π―π΅ Japan Adjusted Trade Balance $JPY Actual: -0.41T π’ Expected: -0.72T Previous: -0.46T
π―π΅ Japan Imports (YoY) (Nov) $JPY Actual: -11.9% π΄ Expected: -8.6% Previous: -12.5%
The Bank of Japan did not change its dovish outlook for the future as it stood firm on rates, dashing hopes among some traders that it would tweak the language to signal a near-term end to negative interest rates https://t.co/jbzVADdsnf https://t.co/FbHOJwKXkx
WATCH: The Bank of Japan did not change its dovish outlook for the future as it stood firm on rates, dashing hopes among some traders that it would tweak the language to signal a near-term end to negative interest rates https://t.co/jkbHZuT56j https://t.co/L6RtTrNrsq
The Bank of Japan maintained ultra-loose monetary settings, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durably around its 2% target https://t.co/jbzVADdsnf https://t.co/NaGDwIhn3Z
WATCH: The Bank of Japan maintained ultra-loose monetary settings, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durably around its 2% target https://t.co/jkbHZuSxgL https://t.co/R5X8cgNCD6
WATCH: The Bank of Japan isn't ready to budge on rates as policymakers made no change to the central bankβs ultra-loose monetary policy. That left its short-term target rate just below zero https://t.co/jkbHZuSxgL https://t.co/uWjZZwigR5
Yen Plunges After BOJ's Ueda Admits It's "Difficult To Exit Negative Rates", Shattering Normalization Hopes https://t.co/hUrpdPxW5m
The Bank of Japan isn't ready to budge on rates as policymakers made no change to the central bankβs ultra-loose monetary policy. That left its short-term target rate just below zero https://t.co/jbzVADcUxH https://t.co/CCl1f9wOim
#BOJ Heads for More Policy Tweaks: Wakatabe Former BOJ Deputy Gov Wakatabe on forces driving #Ueda toward policy normalization. Tiny odds of January move, April more likely once key wage data tallied. Says #Fed Rate cuts shouldn't affect BOJ's timing. https://t.co/SxOLTcHHCU
Per below, a 1% depreciation in the Japanese #Yen this morning in reaction to the Bank of Japan leaving both its rates and its YCC regime unchanged. Interestingly, BoJ Governor Ueda pushed back against any notion that the timing of monetary policy actions in #Japan are influenced⦠https://t.co/U7FKHfTBvn
WATCH: The Bank of Japan maintained ultra-loose policy settings in a widely expected move, as the bank opted to await more evidence on whether wages and prices would rise enough to justify a shift away from massive monetary stimulus https://t.co/jkbHZuSxgL https://t.co/iUmXvYpp98
The Bank of Japan just stuck with the worldβs last negative rate in a decision that pared some of the yenβs recent gains https://t.co/8ZmWZSQyfr
BOJ keeps ultra-loose policy, offers few hints on exit timing - Reuters https://t.co/EywfnraBGk
π΄ BOJ'S HOLD HITS YEN, OFFERS FRESH IMPETUS TO BONDS - EUROPE MARKET WRAP https://t.co/IVrBHLwUzj
The Bank of Japan just stuck with the worldβs last negative rate in a decision that pared some of the yenβs recent gains https://t.co/lZOgvrm2Ty
The BOJ leaves rates unchanged and keeps traders guessing on the timeline on policy shift https://t.co/95WHs6ENzy
European shares rise as dovish BOJ helps risk-on sentiment; inflation data in focus https://t.co/5rl9H5qifQ https://t.co/FoeQibXxSO
The Bank of Japan maintained ultra-loose policy settings in a widely expected move, as the bank opted to await more evidence on whether wages and prices would rise enough to justify a shift away from massive monetary stimulus https://t.co/jbzVADcUxH https://t.co/NSe8Si7vtm
UPDATE: BoJ stays with dovish stance The BoJ was widely anticipated to keep interest rates unchanged in the negative territory at 0.1% but the market was expecting that policymakers would unveil the roadmap stating how they would get exit from its decade-long ultra-loose policy⦠https://t.co/fB9NKT1zaj
Top News Moving Markets Today: βΆοΈ The Bank of Japan (BOJ) chose to hold interest rates at -0.1% this morning. The BOJ also left unchanged a loose upper band of 1.0% set for the long-term government bond yield. The board stated that it will patiently continue with monetary easingβ¦
The yen dropped and Japanese shares rose after the BOJ kept policy unchanged https://t.co/dFgMU7Bakm
The yen dropped and Japanese shares rose after the BOJ kept policy unchanged https://t.co/zdHb8T9gk8
The yen dropped and Japanese shares rose after the BOJ kept policy unchanged https://t.co/GHBivts6sb
UPDATE: TheΒ yenΒ falls 1% against the dollar as Bank of Japan Governor Ueda pushes back against bets for a near-term interest-rate hike https://t.co/3julo69pSg https://t.co/s7uxfRTR79
BOJ governor Ueda says at this point it is difficult to lay out a plan for an exit from negative rate policy
π΄ BOJ'S GOVERNOR UEDA: THE DECISION IN JANUARY WILL DEPEND ON INFORMATION BY THEN.
BOJ Governor Ueda's comments at news conference https://t.co/dzQMKCV1kj https://t.co/2P4OHX0kin
π΄ BOJ'S GOVERNOR UEDA: NEGATIVE REAL WAGES ARE NOT AN OBSTACLE FOR A POLICY SHIFT IF THE WAGE OUTLOOK POINTS TO POSITIVE REAL WAGES AHEAD.
π΄ BOJ'S GOVERNOR UEDA: THERE IS NO TALK ON THE BOARD ABOUT AVOIDING NORMALIZATION IN MARCH.
π΄ BOJ'S GOVERNOR UEDA: ACCOMMODATIVE CONDITIONS WOULD BE MAINTAINED FOR AN UNSPECIFIED PERIOD OF TIME AFTER LIFTING OF NEGATIVE RATES.
π΄ BOJ'S GOVERNOR UEDA: I DON'T HAVE A DETAILED PICTURE OF WHAT POLICIES WOULD BE TAKEN IN WHAT ORDER WHEN TIME COMES FOR AN EXIT FROM THE NEGATIVE INTEREST RATE POLICY.
β οΈ JUST IN: *BANK OF JAPAN KEEPS NEGATIVE INTEREST RATE UNCHANGED AT -0.10% $JPY π―π΅π―π΅ https://t.co/IH69HXgQjK
π΄ BOJ'S GOVERNOR UEDA: I CANNOT DENY SOME NEGATIVE EFFECT OF NEGATIVE INTEREST RATE POLICY ON FINANCIAL INSTITUTIONS' PROFITABILITY.
π΄ BOJ'S GOVERNOR UEDA: GENERALLY SPEAKING, POLICY CHANGE COULD INVOLVE AN ELEMENT OF SURPRISE.
π―π΅ BOJ KEEPS ULTRA-LOOSE POLICY, FOCUS SHIFTS TO EXIT TIMING The Bank of Japan maintained ultra-loose monetary settings on Tuesday in a widely expected move, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durablyβ¦ https://t.co/9CzjE9IY8b
π΄ BOJ'S GOVERNOR UEDA: OUR DECISION ON MONETARY POLICY WOULD TAKE INTO ACCOUNT THE VARIOUS CONDITIONS THAT LEAD TO ANY FUTURE FED RATE CUTS, NOT NECESSARILY THE FED'S MOVE ITSELF.
π΄ BOJ'S GOVERNOR UEDA: THE FED'S RATE-CUT PHASE MAY HAVE AN IMPACT ON JAPAN'S ECONOMY, INCLUDING ON FX RATES.
π΄ BOJ'S GOVERNOR UEDA: RISING SOFT LANDING EXPECTATIONS FOR THE US ECONOMY ARE POSITIVE FOR JAPAN'S ECONOMY.
π΄ BOJ'S GOVERNOR UEDA: MONETARY POLICY IS UP TO EACH COUNTRY TO DECIDE, THE BOJ WILL CONDUCT ITS OWN INDEPENDENTLY OF WHAT THE FED DOES.
π΄ BOJ'S GOVERNOR UEDA: SOFT LANDING EXPECTATIONS FOR THE US ECONOMY ARE RISING.
π΄ BOJ'S GOVERNOR UEDA: WE WON'T RELY ON A SINGLE DATA SET FOR POLICY DIRECTION.
π΄ BOJ'S GOVERNOR UEDA: WE WON'T HESITATE TO TAKE ADDITIONAL EASING MEASURES IF NECESSARY.
Asian markets mixed as Fed officials push back on rate cut bets https://t.co/PRBedWWs0Z https://t.co/1rBJuveZHb
β οΈBREAKING: *BOJ KEEPS NEGATIVE RATES, MAINTAINS ULTRA-DOVISH STANCE IN FINAL MEETING OF 2023 π―π΅π―π΅ https://t.co/gaXa9a2i4e
The yen weakens after the BOJ stands pat https://t.co/eY2v0T9Xj1
π΄ YEN DROPS ON BOJ HOLD, ASIA STOCKS TRADE MIXED - ASIA MARKET WRAP https://t.co/3j7LweuXo3
The yen weakens after the BOJ stands pat https://t.co/3iIKpnRZI8
The yen weakens after the BOJ stands pat https://t.co/pcejKD3Paf
The yen weakens after the BOJ stands pat https://t.co/rJcgWOCawb
BOJ keeps ultra-loose policy intact https://t.co/QwZLaTZobQ https://t.co/cmeGnUs1qd
Yen falls after Bank of Japan sticks with negative interest rates https://t.co/8jvFW8ykiT
Yen slips, Nikkei gains as BOJ stands pat https://t.co/np6qN9mBUI https://t.co/Ls6QtXr523
Bank of Japan sticks to ultra-easy monetary policy in light of 'high uncertainties' https://t.co/HXSAEe8fPq
The Bank of Japan stuck with the worldβs last negative interest rate Tuesday and offered no guidance on if it might scrap the policy next year https://t.co/BbUxQQm8QV
Asian markets mixed as Fed officials push back on rate cut bets https://t.co/X0NEHp5UQH
The Bank of Japan stuck with the worldβs last negative interest rate Tuesday and offered no guidance on if it might scrap the policy next year https://t.co/BYPQLDYPp2
The Bank of Japan stuck with the worldβs last negative interest rate Tuesday and offered no guidance on if it might scrap the policy next year https://t.co/lNDw63Gr9U
The yen weakened after the Bank of Japan maintained its key policy settings https://t.co/SDx5LzfeaH
The yen weakened after the Bank of Japan maintained its key policy settings https://t.co/9lNf10qFw2
The yen weakened after the Bank of Japan maintained its key policy settings https://t.co/Et7TG3wt7I
BOJ MAINTAINS POLICY RATE AT -0.1% But... but... muh 48% Dec rate hike odds
π΄ BOJ EXPECTS RATE OF INCREASE TO DECREASE MOVING FORWARD
π΄ BOJ EXPECTS CPI TO RISE ABOVE 2% THROUGHOUT FISCAL 2024
π΄ UNCERTAINTY REMAINS FOR JAPAN'S ECONOMY; PRICES REMAIN VERY HIGH ACCORDING TO BOJ
π΄ BOJ PROJECTS JAPAN'S ECONOMY TO CONTINUE GROWING ABOVE POTENTIAL GROWTH RATE
π΄ DOLLAR/YEN RISES OVER 0.4% AFTER BOJ MAINTAINS POLICY STANCE
BOJ Leaves Forward Guidance Unchanged BOJ Maintains 10-Year JGB Yield Target at About 0% BOJ Maintains Policy Rate at -0.1%
π΄ BOJ REPORTS MODERATE RISE IN INFLATION EXPECTATIONS
π΄ BOJ EXPECTS GRADUAL INCREASE IN TREND INFLATION
π΄ DOLLAR-YEN RISES AFTER BOJ STANDS PAT ON JPY
π΄ β οΈ BREAKING: BOJ RATE DECISION ACTUAL -0.10% (FORECAST -0.1%, PREVIOUS -0.10%) $MACRO
π΄ BOJ MAINTAINS CURRENT FORWARD GUIDANCE ON MONETARY POLICY
π΄ BOJ MAINTAINS 1.0% REFERENCE RATE FOR 10-YEAR JGB YIELD
π΄ BOJ KEEPS 10-YEAR JGB YIELD TARGET AT AROUND 0%
π΄ BOJ KEEPS 10-YEAR JGB YIELD TARGET AT APPROXIMATELY 0%
π―π΅ Japan BoJ Interest Rate Decision $JPY Actual: -0.10% Expected: -0.10% Previous: -0.10%
Yen awaits critical BOJ outcome; dollar adrift https://t.co/pBGygdmTYE https://t.co/HctaliXUId
β οΈ YEN AWAITS CRITICAL BOJ OUTCOME; DOLLAR ADRIFT Full Story β https://t.co/8JIo8omcFa https://t.co/fRHY8T8Woj
Japanβs economic policy minister will attend the Bank of Japanβs policy meeting Tuesday, the first attendance by a cabinet minister since April 2020 https://t.co/yJqaJcVIM3
β οΈ YEN, ASIAN STOCKS IN CAUTIOUS MOOD AHEAD OF BOJ DECISION Full Story β https://t.co/6RnYgg9q2W https://t.co/YamJ3DAAp6
Japanβs economic policy minister will attend the Bank of Japanβs policy meeting Tuesday, the first attendance by a cabinet minister since April 2020 https://t.co/R5TnTacdfE
BOJ to focus on Japan's progress in hitting price goal https://t.co/C6kfR9LN3w https://t.co/b0wWQ8EiuK
Asia markets poised for mixed open ahead of Band of Japan policy decision, RBA minutes https://t.co/bGDty1A0pH
π΄ JAPAN'S ECONOMY MINISTER YOSHITAKA SHINDO TO ATTEND TODAY'S BOJ POLICY MEETING - GOVT.
Japanese EconMin Yoshitaka Shindo To Attend Today's BoJ Policy Meeting
π΄ JAPAN'S ECONOMY MINISTER TO ATTEND TODAY'S BOJ POLICY MEETING - GOVERNMENT
π―π΅ The Bank of Japan concludes a policy meeting on Tuesday at which members are likely to debate whether economic conditions are falling into place for the bank to begin unwinding ultra-loose monetary settings. None of the economists polled by Reuters expect the central bank toβ¦ https://t.co/0RV9MPN3AQ
β οΈ BOJ TO FOCUS ON JAPAN'S PROGRESS IN HITTING PRICE GOAL Full Story β https://t.co/FMCWcTDdLv https://t.co/YAFQ0PPW7q
Yen clings on to gains ahead of key BOJ decision; dollar slips - Reuters https://t.co/c2ek2bA0Mr
γ½οΈ YEN CLINGS ON TO GAINS AHEAD OF KEY BOJ DECISION; DOLLAR SLIPS he yen retreated on Monday, but held near its recent highs, as the Bank of Japan (BOJ) kicked off a two-day meeting that could be crucial in determining the timing of the end of the central bankβs ultra-looseβ¦ https://t.co/UJlsRwZnRr
Stock Market Today: Stocks mixed as Fed pushes back on rate-cut bets https://t.co/inKk4UnarR