Marketmind: All eyes on Bank of Japan's 1% yield cap
© Reuters. People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File photoAsia's economic calendar is jammed with top-tier releases on Tuesday, from Chinese purchasing managers index data to third quarter GDP figures from Hong Kong and Taiwan, but one stands above all others - the Bank of Japan's policy meeting.
Speculation that the BOJ will act ramped up on Monday after Nikkei, citing sources close to the matter, reported that policymakers may further tweak YCC to allow the 10-year Japanese Government Bond yield to rise above 1%. Negative interest rates, the BOJ accumulating 45% of all outstanding Japanese Government Bonds, and a 30% slide in the yen's value against the dollar since early 2021 made Japanese stocks extremely attractive.
Inflation in Japan has finally taken off, and for the first time in decades, appears to be sticking well above 2%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marketmind: Calm before policy, data stormMarketmind: Calm before policy, data storm
Read more »
Marketmind: Market bounce sets up Fed-dominated week aheadMarketmind: Market bounce sets up Fed-dominated week ahead
Read more »
Bank of Japan may further loosen cap on long-term bond yields, report saysWilliam Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
Read more »
Week ahead: Three Central Banks; three rate decisionsThis week welcomes three major central banks to the stage—the Bank of Japan (BoJ), the Federal Open Market Committee (FOMC [the Fed]) and the Bank of
Read more »
U.S. military bulk buying Japan's seafood to counter China import banThe first purchase was about a metric ton of scallops.
Read more »
Pentagon announces new nuclear bomb 24 times more powerful than one dropped on JapanThe Department of Defense announced its pursuit of a nuclear bomb that will be 24 times more powerful than one of the bombs dropped on Japan duri...
Read more »