Bank of Japan Monetary Policy – December-26-2023

The Japanese Yen recently strengthened to around 142.2 per dollar. This was due to comments from Bank of Japan Governor Kazuo Ueda about inflation progress.

Key points include:

• Ueda stated that Japan’s economy is slowly moving away from a low-inflation environment.
• The chance of achieving the price stability target is gradually increasing, but it’s not yet high enough.
• If the positive cycle between wages and prices strengthens and the likelihood of sustainably achieving the 2% inflation target increases, the board may consider altering its monetary policy.
• Earlier this month, the BOJ kept its ultra-loose monetary policy and didn’t comment on potential policy normalization next year.
• In November, Japan’s unemployment rate was 2.5%, the same as the previous month and in line with market predictions.

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Ethan O. Miller

Ethan O. Miller is a seasoned Forex analyst. His insightful articles offer a unique perspective on currency trends, aiding both novice and experienced traders in navigating the Forex market.

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