The EUR/JPY cross ticks lower after the Bank of Japan (BoJ) announced its policy decision this Friday and moves away from over a two-week high, around the 160.00 psychological mark touched the previous day. Spot prices drop closer to mid-158.00s in the last hour, though remain confined in the previous day's broader range.
As was widely anticipated, the Japanese central bank maintained the short-term interest rate target in the range of 0.15%-0.25% at the end of a two-day monetary policy review meeting. In the accompanying policy statement, the BoJ noted that Japan's economy will achieve growth above potential and that inflation is likely to be at a level generally consistent with the price target. This, however, fails to provide any meaningful impetus to the Japanese Yen (JPY), though hawkish BoJ expectations continue to act as a headwind for the EUR/JPY cross.
In fact, the recent comments by a slew of BoJ officials suggested that the Japanese central bank will hike interest rates again by the end of this year. The bets were reaffirmed by the latest consumer inflation figures released earlier this Friday, which showed that Japan's headline CPI rose from 2.8% in the prior month to the 3% YoY rate in August, hitting a 10-month high. Adding to this, the Core CPI, which excludes volatile fresh food prices, edged higher to 2.8%, or a 10-month high amid a sustained pick-up in consumption on the back of higher wages.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
