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☆ Investors manoeuvre, warily, for long-shot BOJ policy move
▼ + stars: | 2023-07-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +5 min

SLOWLY, STEADILYBOJ sources say the central bank is leaning towards keeping its yield control policy unchanged as policymakers wait for data to affirm wages and inflation will keep rising. The benchmark 10-year JGB yield also retreated to 0.445% from as high as 0.485%. "We don't short the JGB market. In part, it's an expensive thing to do - as you know, the Bank of Japan owns 110% of the 10-year JGB market," he said. "Nobody's calling for them to hike aggressively, just bringing some function back to the JGB market, allowing themselves to step away because the data has given them an opportunity to do so.

Persons: Jimmy Lim, Lim, Kazuo Ueda, Nigel Foo, Haruhiko Kuroda, Jim Leaviss, Leaviss, Michael Michaelides, Ales Koutny, James Athey, Athey, Kevin Buckland, Ankur Banerjee, Summer Zhen, Alun John, Divya Chowdhury, Harry Robertson, Vidya Ranganathan, Edmund Klamann Organizations: Bank of Japan, Management, ING, Investors, G Investments, Vanguard, Thomson Locations: TOKYO, Singapore, FSI, abrdn

Summary Tokyo July core CPI rises 3.0% yr/yr vs f'cast +2.9%Tokyo core inflation stays above BOJ's 2% targetInflation excluding energy accelerates in JulyData comes ahead of closely watched BOJ meeting outcomeTOKYO, July 28 (Reuters) - Core inflation in Japan's capital slowed in July but remained well above the central bank's 2% target, data showed on Friday, keeping pressure on policymakers to dial back ultra-loose monetary policy. The data for Tokyo, which is seen as a leading indicator of nationwide trends, comes ahead of the Bank of Japan's closely watched policy decision due later in the day. While the gain was slower than a 3.2% rise in June, Tokyo core inflation stayed above the central bank's 2% target for the 14th straight month. The dollar dipped slightly to around 139.03 yen after the release of the Tokyo inflation data. Reporting by Yoshifumi Takemoto and Leika Kihara; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoshifumi Takemoto, Sam Holmes Organizations: TOKYO, Bank of, Nikkei, Thomson Locations: Tokyo, Bank of Japan's

Traders also awaited policy decisions from the European Central Bank (ECB) and Bank of Japan (BoJ) this week. FOCUS ON CENTRAL BANKSElsewhere, the ECB sets policy on Thursday. Again, a quarter point hike is widely expected, but building evidence of an economic slowdown has called into question the chances of another by year-end. The Australian dollar slid 0.4% to $0.6766 after slower-than-expected inflation data suggested the Reserve Bank of Australia (RBA) would forgo a rate hike on Aug. 1. Money markets are split between a 25 basis point (bp) or a 50 bp rate hike.

Persons: Jerome, Powell, Joseph Capurso, Capurso, Sean Callow, Sterling, Kevin Buckland, Joice Alves, Mark Potter Organizations: Federal, Traders, European Central Bank, Bank of Japan, U.S, Money, Commonwealth Bank of Australia, FOCUS, ECB, Australian, Reserve Bank of Australia, Westpac, U.S ., Bank of, Thomson Locations: LONDON, U.S, Beijing, China, Bank of England, Tokio, London

☆ Morning Bid: Markets brace for Fed decision, earnings flood
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

Investors will be listening carefully to Chair Jerome Powell for indications of whether or not another interest rate hike is in the pipeline. The Fed's communication could set the tone for markets ahead of policy decisions from the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday. Reuters GraphicsEuro zone June M3 annual growth and lending data on Wednesday are unlikely to affect markets ahead of the ECB's decision. Chinese stock markets were mostly lower on Wednesday following a steep rally the day before. China's blue-chip CSI300 (.CSI300) index was down 0.3% while the CSI 300 Real Estate index gained 0.2%.

Persons: Brigid Riley, Jerome Powell, HSI, Sonali Desai, Edmund Klamann Organizations: Federal Reserve, Federal, Market, European Central Bank, Bank of Japan, ECB, Reuters, Fisher, Union Pacific Corp, eBay, Boeing, Microsoft, Carrefour, Danone, GSK, CSI, CPI, Reserve Bank of Australia, U.S, Fed, Thomson Locations: United States, U.S, Europe, France, Asia, China

☆ Morning Bid: Tech splits, banks merge and Fed decides
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +5 min

Unlucky for some perhaps, but a 13th today would make it the longest winning streak for the Dow since 1987. Meta Platforms (META.O) is up next after Wednesday's closing bell and its share rose 2%. Wells Fargo (WFC.N), meantime, climbed 2.8% after the bank's board authorized a new $30 billion share buyback program. The Fed decision comes in the wake of another set of forecast-beating U.S. consumer confidence readings for July. Elsewhere, the European earnings season was in full swing too, with banks dominating the diary and the European Central Bank meeting tomorrow.

Persons: Mike Dolan, Dow Jones, Wells Fargo, Kazuo Ueda, Jerome Powell, Molina, Rollins, Edwards, John Stonestreet Organizations: Microsoft, Dow, Netflix, Google, Federal Trade Commission, European Central Bank, Deutsche Bank, Bank of Japan, HK, . Federal, eBay, Boeing, General Dynamics, Seagate, Union Pacific, CME, Hilton Worldwide, Lam Research, Water Works, United Rentals, Otis, Treasury, Reuters, Reuters Graphics Reuters, Thomson Locations: U.S, Wall, Nasdaq, California, Lam, Everest

☆ IMF urges BOJ to move away from yield control, prepare for future tightening
▼ + stars: | 2023-07-25 | by ( Leika Kihara | Andrea Shalal | ) www.reuters.com time to read: +3 min

TOKYO/WASHINGTON (Reuters) -The Bank of Japan should start preparing for future monetary tightening by moving away from its yield control policy, the International Monetary Fund’s chief economist Pierre-Olivier Gourinchas said on Tuesday. FILE PHOTO: A Japanese flag flutters on the Bank of Japan building in Tokyo, Japan, March 15, 2016. They have also said the BOJ was mindful of the cost of YCC such as market distortions caused by its heavy bond buying. Widening the allowance band around its 10-year yield target, a step it took last December, could be among options to mitigate the side-effects of YCC, analysts say. Growth in the world’s third-largest economy is expected to slow to 1.0% in 2024 as the effect of past stimulus measures dissipate, the IMF said.

Persons: Pierre, Olivier Gourinchas, Toru Hanai, ” Gourinchas, Gourinchas, Kazuo Ueda Organizations: Bank of Japan, Monetary Fund’s, REUTERS, Reuters Locations: TOKYO, WASHINGTON, Tokyo, Japan

The yuan firmed by more than 0.5% in both the onshore and offshore markets as investors cheered comments at the closely watched Politburo meeting, though many were still seeking specific details on greater stimulus measures. The yuan traded offshore was last at 7.1444 per dollar and in the onshore market it was at 7.1454 per dollar. Also propping up the yuan were China's major state-owned banks selling U.S. dollars to buy yuan in both onshore and offshore spot markets on Tuesday, sources told Reuters. The positive sentiment from China lifted the Australian dollar, often used as a liquid proxy for the yuan, which rose 0.4% to $0.6767. In Europe, the pound rose 0.22% to $1.2854, its first day of gains after seven straight sessions of losses, its longest such streak since March 2020.

Persons: Tommy Xie, Guillermo Felices, Ueda, Aninda Mitra, Rae Wee, Alun John, Shri Navaratnam, Lincoln, Christina Fincher Organizations: Reuters, European Central Bank, Federal Reserve, Bank of Japan, BNY Mellon Investment Management, Thomson Locations: SINGAPORE, LONDON, China, Europe, Asia, Singapore, London

☆ CNBC Daily Open: May the good times roll
▼ + stars: | 2023-07-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow's 11-day streakMajor U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Busy week for central banksThe U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. [PRO] No sign of recessionSteve Eisman, the investor who called and profited from the 2008 subprime mortgage crisis, told CNBC he thinks "there's no evidence of a recession" so far.

Persons: Elon, Linda Yaccarino's, aren't, Steve Eisman Organizations: CNBC, U.S, Dow Jones, Twitter Twitter, Twitter, U.S . Federal Reserve, European Central Bank, Bank of Japan, ECB, Chinese Communist Party Locations: U.S

☆ CNBC Daily Open: Even meme stocks are rallying in this market
▼ + stars: | 2023-07-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks rallyMajor U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Busy week for central banksThe U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. Using FactSet data, CNBC Pro screened 100,000 stocks to identify just four major stocks from around the world that have raised dividends by more than 10% annually over the past 15 years.

Persons: Elon, Linda Yaccarino's Organizations: CNBC, U.S, Dow Jones, Shenzhen Component, Chinese Communist Party, Twitter Twitter, Twitter, U.S . Federal Reserve, European Central Bank, Bank of Japan, ECB, CNBC Pro Locations: Asia, Pacific, Shanghai, Shenzhen, U.S

☆ Dollar clings to gains with central banks in focus
▼ + stars: | 2023-07-24 | by ( Laura Matthews | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The euro was down 0.49% at $1.1069 while sterling was last trading at $1.2823, down 0.25% on the day, kicking off a busy week for central bank meetings with investors expecting rate hikes in Europe and the United States. The Fed concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan (BOJ) on Friday, as well as earnings from many heavyweight companies. The BOJ is the most likely of the three central banks to throw up a market-moving surprise, traders say, with a tweak to its yield curve control policy seen as a possibility. "There's a deep sense of unease around what might come next from the Bank of Japan," said ForexLive's Button.

Persons: Dado Ruvic, Adam Button, John Velis, ForexLive's Button, bitcoin, Laura Matthews, Alun John, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, ForexLive, European Central Bank, Bank of Japan, Investors, ECB, Fed, BNY Mellon, Reuters, Thomson Locations: York, Europe, Toronto, U.S, United States, Americas, New York

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. The euro slid after PMI data showed euro zone business activity shrank much more than expected in July. The pound also dropped after British business activity data, but its move was less dramatic. There is plenty more for investors to watch this week - the Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan on Friday, as well as earnings from many heavyweight companies.

Persons: Dado Ruvic, Joe Manimbo, bitcoin, Laura Matthews, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, P Global, Washington D.C, ECB, PMI, Reserve, European Central Bank, Bank of Japan, Investors, Fed, Reuters, Thomson Locations: York, LONDON, U.S, Europe, Washington, United States, New York

The euro slipped 0.25% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down 0.65% in a clear underperformance. Meanwhile, U.S. stock futures , rose 0.2% and 0.3%, respectively, pointing to a positive open for Wall Street. With the Federal Reserve, European Central Bank and Bank of Japan meeting this week, a note of caution underpinned the mood across global markets. The benchmarks continued their fourth straight of week of gains last week, as supply is expected to tighten following OPEC+ cuts. HOST OF EARNINGSOn top of central bank meetings and economic data, investors also braced for a slew of earnings from both sides of the Atlantic.

Persons: Kai Pfaffenbach, Bruno Schneller, Schneller, Eddie Cheng, Allspring's Cheng, SPAIN UNDERPERFORMS, Fiona Cincotta, Nell Mackenzie, Dhara, Wayne Cole, Amanda Cooper, Peter Graff Organizations: REUTERS, Nasdaq, Fed, ECB London, Wall, Federal Reserve, European Central Bank and Bank of Japan, ECB, INVICO Asset Management, Bank of Japan, Japan's Nikkei, Allspring Global Investments, Brent, . West Texas, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, GM, U.S, Thomson Locations: Frankfurt, Germany, Spain, U.S, Spain's, Asia, Pacific, Japan, Ukraine, Russia, China, SPAIN, SPAIN UNDERPERFORMS Spain, Sunday's, Basque, Catalan, Coca, London, SYDNEY

The remarks came amid simmering market speculation that creeping inflation and robust wage growth will prod the Bank of Japan (BOJ) to tweak its yield control policy at a two-day rate review ending on Friday. Under the joint agreement with the government signed in 2013 and re-confirmed by the current administration, the BOJ pledges to achieve 2% inflation at the earliest date possible. The remarks differ in tone from those made earlier on Monday by top currency diplomat Masato Kanda, who said recent inflation and wage rises were overshooting expectations. On Friday, Kanda told Reuters that "various expectations and speculations are spreading about the possibility of some kind of tweak to monetary policy." Sources have told Reuters the BOJ is leaning toward keeping its yield control policy steady this week, though there is no consensus within the bank.

Persons: BOJ, Kanda, Yoshihiko Isozaki, Isozaki, Isozaki's, Masato Kanda, It's, Kazuo Ueda, Leika Kihara, Kantaro Komiya, Kim Coghill, Lincoln Organizations: Bank of Japan, Reuters, Thomson Locations: TOKYO

☆ Asia shares brace for trio of rate meetings, China steps
▼ + stars: | 2023-07-24 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China's Politburo meeting this week could see more stimulus announced, though investors have so far been underwhelmed by Beijing's actions. S&P 500 futures and Nasdaq futures were little changed ahead of a wave of earnings this week. The U.S. dollar eased a touch to 141.37 yen , having jumped 1.3% on Friday following the report on the BOJ. The rise in the dollar pulled gold back to $1,961 an ounce and away from last week's peak of $1,987. Oil prices ran into profit-taking early on Monday having climbed for four straight weeks amid tightening supplies.

Persons: Jerome Powell, Christine Lagarde, Powell, John Briggs, Goldman Sachs, Brent, Wayne Cole, Shri Navaratnam, Christopher Cushing Organizations: Nikkei, Fed, ECB, SYDNEY, U.S . Federal Reserve, European Central Bank, NatWest Markets, Bank of Japan, Reuters, Japan's Nikkei, HK, Nasdaq, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, Google, U.S, Thomson Locations: Europe, United States, Asia, Pacific, Japan, Coca, Spain

☆ A 'momentous week' ahead as the Fed, ECB and Bank of Japan near pivot point
▼ + stars: | 2023-07-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesThe U.S. Federal Reserve, Bank of Japan and European Central Bank will all announce key interest rate decisions this week, with each potentially nearing a pivotal moment in their monetary policy trajectory. The Fed Each central bank faces a very different challenge. "The FOMC will, however, maintain a tight monetary policy stance to aid continued softening in demand and consequently, inflation." Several analysts over the past week have suggested that policymakers will remain "data dependent," but push back against any talk of interest rate cuts in the near future. ECB Chief Economist Philip Lane last month warned markets against pricing in cuts to interest rates within the next two years.

Persons: Goldman Sachs, Michael Cahill, Cahill, Steve Englander, Englander, Philip Lane, Paul Hollingsworth, Christine Lagarde, Hollingsworth Organizations: Bank of Japan, U.S, Bloomberg, Getty, . Federal Reserve, European Central Bank, ECB, Federal, Moody's Investors Service, Standard Chartered, Downside, Fed, BNP, Bank of Locations: U.S, North America, Bank of Japan, Japan

The European common currency fell 0.4% to $1.1083 , skidding after a quiet Asian session on PMI data that showed euro zone business activity shrank much more than expected in July. The pound dropped after British activity data, but less dramatically and was last down 0.1% at $1.2839. The yen strengthened with the dollar down 0.47% at 141.2 yen , and the euro down 0.7% at 156.6 yen. The Swiss franc was steady at 0.8648 per dollar, and the dollar index was up 0.1% at 101.2. Reporting by Tom Westbrook; Editing by David Holmes and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Harvey, Bob Savage, Tom Westbrook, David Holmes, Jacqueline Wong Organizations: SYDNEY, PMI, Reserve, European Central Bank, Bank of Japan, Investors, ECB, Fed, U.S, BNY Mellon, The Bank of Japan, Reuters, Commonwealth Bank of Australia, Swiss, Thomson Locations: LONDON, Europe, United States, Ukraine

☆ Yen pressured as traders wait on policy decisions
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +2 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank a day later and the Bank of Japan on Friday. It is under pressure as the central bank believes it is finished hiking rates and export prices have dragged as China's post-pandemic recovery has disappointed. "As long as dairy prices remain under pressure, the New Zealand dollar is unlikely to thrive," said ANZ analysts. On the data front, traders will be watching out for Purchasing Manager's Index figures due across the globe through the trading day on Monday.

Persons: Bob Savage Organizations: Resona Bank, Bank of Japan, European Central Bank, Reuters, Swiss, U.S, BNY Mellon, ECB, New Zealand, ANZ Locations: Tokyo, Japan, Europe, United States

☆ Morning Bid: Euro biz ebbs, China property and rate peaks?
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +4 min

Arguments for calling a halt to the credit tightening were strengthened on Monday as early July business surveys for the euro area came in well below forecasts, showing a deepening contraction in overall activity this month. The euro dropped more than half a percent against the dollar as euro government debt yields fell back, with an indecisive weekend election result in Spain adding pressure. With the ongoing slide in manufacturing still the biggest drag and due in large part to China's spluttering post-Covid recovery, further turbulence in China's property markets will only increase the anxiety. For Wall St, the looming Fed decision dominates this week - with a check on U.S. July business surveys topping the data on Monday's calendar in another huge corporate earnings week. U.S. Treasury yields fell back, but the dollar (.DXY) climbed against the euro, yuan and sterling - also hit by disappointing UK business readings for July.

Persons: Mike Dolan, China's, readouts, Dow Jones, Brown Organizations: Futures, Bank of, Dalian, Japan's Nikkei, Tech, Microsoft, Dow, Nasdaq, Treasury, Chicago Fed, Whirlpool, Packaging Corp of America, Cadence, Trade Organization, Reuters, Thomson Locations: U.S, China, Bank of Japan, Spain, United States, Alexandria, Geneva

TOKYO, July 24 (Reuters) - Japan's top currency diplomat Masato Kanda said on Monday recent inflation and wage rises were overshooting expectations, suggesting companies were changing practices that had been based on the assumption prices won't rise much. The central bank is likely to revise up its inflation forecasts at its two-day policy meeting ending on Friday, Kanda told reporters, adding that he was not in a position to comment on specific monetary policy. "It's become a shared view at home and abroad that changes are seen in Japan's corporate price- and wage-setting behaviour," Kanda told reporters. "If you add up data available so far, we'll probably see an upgrade in the BOJ's (inflation) forecasts," he said. On Friday, Kanda told Reuters that "various expectations and speculations are spreading about the possibility of some kind of tweak to monetary policy."

Persons: Masato Kanda, Kanda, It's, we'll, Kazuo Ueda, Tetsushi Kajimoto, Leika Kihara, Kim Coghill, Lincoln Organizations: Bank of Japan, Reuters, Thomson Locations: TOKYO

July 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. If that wasn't enough, purchasing managers index figures will give the first indications on how economies performed in July. Dovish signals from Fed Chair Jerome Powell would probably boost risk appetite and lift global stocks markets. The dollar and U.S. bond yields would likely come under downward pressure too - often bullish triggers for Asian and emerging markets. BOJ Governor Kazuo Ueda has signaled his resolve to maintain massive monetary stimulus, despite inflation persistently outpacing the bank's 2% target.

Persons: Jamie McGeever, Jerome Powell, Kazuo Ueda, Japan PMIs, Australia PMIs, Diane Craft Organizations: Communist Party, U.S . Federal Reserve, European Central Bank and Bank of Japan, Microsoft, Investors, Reuters, Thomson Locations: U.S, Asia, China, Beijing, Australian, Malaysia, Singapore, Malaysian, Japan, Australia

☆ Global shares slip, dollar soars vs yen on BoJ policy expectations
▼ + stars: | 2023-07-21 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The yen weakened 1.19% to 141.77 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.31%. "None of them are happening with massive severity, but the longer we go on with higher rates, more and more that's going to come through," he said. BOJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. "Markets were building up expectations which now look unlikely to play out," said Guillaume Paillat, a multi-asset manager at Aviva Investors.

Persons: Brendan McDermid, BoJ, Dow, Garrett Melson, Mullarkey, Patrick Spencer, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Nasdaq, Investment, Microsoft Corp, Apple Inc, SLC Management, Baird, Microsoft, Apple, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, London, MSCI's U.S, Europe, China, Sydney

BoJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing the policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. The dollar gained 1.24% to 141.81 yen , after earlier reaching 141.95, the highest since July 10. The greenback is on track for its best weekly percentage gain against the Japanese currency since October at 2.22%. The pound is on track for a 1.75% weekly fall, its largest since early February.

Persons: Edward Moya, Moya, Kenneth Broux, Broux, Masato Kanda, Jerome Powell, Powell, Scherrmann, Karen Brettell, Iain Withers, Angus MacSwan, Jonathan Oatis Organizations: YORK, Reuters, Bank of Japan, FX, Societe Generale, Ministry of Finance, Federal Reserve, European Central Bank, Thomson Locations: Europe, New York, United States, U.S, London

Gold prices slipped as the dollar rebounded to its highest level in more than a week as investors prepare for next week's big central bank policy meetings, including the BoJ, the U.S. Federal Reserve and the European Central Bank. The yen weakened 1.13% to 141.68 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.36%. BoJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. As Japanese inflation has stayed above the BoJ's target, traders have bet on the central bank ditching its yield curve control program, a move likely to cause the yen to strengthen.

Persons: Brendan McDermid, BoJ, Garrett Melson, Patrick Spencer, Spencer, you've, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Investment, Nasdaq, Baird, Microsoft Corp, Apple Inc, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, Europe, China, London

☆ Japan's top financial diplomat signals chance of BOJ policy tweaks
▼ + stars: | 2023-07-21 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

TOKYO, July 21 (Reuters) - Japan's top financial diplomat on Friday suggested the central bank may tweak its approach to monetary stimulus at its next policy meeting, due to "signs of changes" in corporate behaviour on wage growth and price rises. In rare remarks on monetary policy, Masato Kanda, vice finance minister for international affairs, said he expects the Bank of Japan (BOJ) to make a judgment on policy by analysing the conditions and outlook for prices at every review. "Various expectations and speculations are spreading about the possibility of some kind of tweak to monetary policy," he said. The BOJ, under Governor Kazuo Ueda's predecessor Haruhiko Kuroda, launched an unprecedented round of monetary stimulus in 2013, pledging to inflate the economy to meet a 2% inflation target in two years. The BOJ is leaning towards keeping its yield control policy unchanged at next week's meeting, five sources familiar with its thinking said, as policymakers prefer to scrutinise more data to ensure wages and inflation keep rising.

Persons: Masato Kanda, Kanda's, Kanda, Kazuo Ueda's, Haruhiko Kuroda, Tetsushi Kajimoto, Leika Kihara, Satoshi Sugiyama, Andrew Heavens, Miral Fahmy, Sharon Singleton Organizations: Bank of Japan, Reuters, Thomson Locations: TOKYO

☆ Yen slides after sources say Bank of Japan leaning to holding key policy
▼ + stars: | 2023-07-21 | by ( Iain Withers | ) www.reuters.com time to read: +4 min

BoJ policymakers prefer to scrutinise more data to ensure wages and inflation keep rising before changing the policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. The dollar was heading for its biggest one-day gain versus the yen since April, rising as much as 1.3% to a nearly two-week high of 141.95. Prior to the report, the dollar had been up around 0.3% versus the yen. The dollar index - which tracks the greenback against six major peers including the yen - was last up 0.3% at 101.040.

Persons: Kenneth Broux, Broux, Kazuo Ueda, Masato Kanda, Scherrmann, Iain Withers, Ankur Banerjee, Angus MacSwan, David Holmes Organizations: Reuters, Bank of Japan, Trade, FX, Societe Generale, Ministry of Finance, Federal Reserve, European Central Bank, Thomson Locations: Europe, United States, U.S, Singapore

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