Teaser: The Governor of the Bank of Japan will outline the future interest rate path at 2:30 PM today
BlockBeats News, December 19th, Bank of Japan Governor Haruhiko Kuroda will hold a press conference at around 3:30 p.m. local time (2:30 Beijing time) to further elaborate on the considerations behind this decision and the future interest rate path. The market generally expects that the Bank of Japan will continue to take a gradual, predictable, data-dependent approach to rate hikes, rather than aggressive tightening.
Additionally, following the announcement of this rate hike decision, the Japanese Yen saw a short-term uptick against the U.S. Dollar, but then retreated, falling below the 156 level during the session, down 0.3% on the day. Market reaction indicates that this rate hike has been fully digested by investors, confirming the Bank's assessment that the current rate adjustment is not enough to change its accommodative stance significantly; it is more like a part of a "gradual normalization" process.
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