DIRS.INFO The most relevant business & tech news

LONDON, June 16 (Reuters) - The pound was set for its biggest weekly rise in six months on Friday after days of economic data and central bank rate decisions, and ahead of the Bank of England's monetary policy meeting next week. It was up 1.72% since Monday, the biggest weekly increase since early December. "Tuesday's labour market data led Bank rate expectations to spend much of that evening flirting with a terminal (peak) rate closer to 6%," said Nicholas Rees, FX market analyst at Monex Europe. Reuters GraphicsHe said U.S. economic data released on Thursday, which showed weekly jobless claims were higher than expected last week, also helped boost sterling by weighing on the dollar. Sterling rose to its highest level against the yen in eight years following the BoJ's announcement, at 180.83 yen to the pound.

Persons: Nicholas Rees, Rees, Sterling, BoE, they're, Ben Laidler, Farouq Suleiman, Harry Robertson, Angus MacSwan Organizations: Bank, Analysts, Bank of England, FX, Monex, European Central Bank, Bank of Japan, ECB, U.S . Federal, Nationwide Building Society, Thomson Locations: Monex Europe, lockstep, Britain

☆ Yen sags to 15-year low vs euro after BOJ rate decision
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: +2 min

Yen, euro and U.S. dollar banknotes of various denominations. The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank's (ECB) rate hike on Thursday. As widely expected, the BOJ maintained its -0.1% short-term rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The yen fell broadly following the decision and hit a fresh 15-year low of 155.22 per euro . The euro was flat against the greenback at $1.0940 after earlier touching a five-week high, having surged over 1% on Thursday following the rate hike and forward ECB guidance.

Persons: Kazuo Ueda, Erik Bregar, Christine Lagarde Organizations: U.S, Bank of Japan, European, Bank's, Bank of, Bull, Bank of England Locations: Bank of Japan, Toronto

Japan's central bank maintained its ultra loose monetary policy on Friday, electing to support fragile economic growth at a time of swirling global uncertainty. The Bank of Japan held its short-term interest rate target at -0.1% and made no changes to its yield curve control policy, in line with economists' expectations. The Bank of Japan's short-term interest rate target has been held at -0.1% since it first adopted negative rates in 2016. Earlier this week, the U.S. Federal Reserve left rates unchanged Wednesday after 10 straight hikes, while the European Central Bank on Thursday raised its main rates to the highest levels in 22 years. In December, the central bank unexpectedly widened the range for the 10-year yield target to 50 basis points above and below 0%.

Persons: Kazuo Ueda Organizations: Japan, Bank of Japan, U.S . Federal Reserve, European Central Bank Locations: Tokyo, Japan's

☆ Yen slips after BOJ stands pat, soft data dents dollar
▼ + stars: | 2023-06-16 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The U.S. dollar was last roughly 0.1% higher at 140.42 yen . That and a run of soft U.S. economic data saw the dollar fall broadly as traders scaled back their bets on how high U.S. interest rates would need to rise. FED HAWKISHNESS CHALLENGEDThe ECB's monetary policy decision came a day after the U.S. Federal Reserve left interest rates unchanged, snapping a string of 10 consecutive rate hikes. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month.

Persons: Kazuo Ueda's, Hirofumi Suzuki, Christine Lagarde, Sterling, Rae Wee, Edwina Gibbs, Kim Coghill Organizations: Bank of Japan, U.S, European Central Bank, ECB, Deutsche Bank, Bank of England, U.S . Federal Reserve, Fed, Labor Department, Thomson Locations: SINGAPORE, Asia, United States

☆ Asia markets headed for mixed open ahead of Bank of Japan rate decision
▼ + stars: | 2023-06-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), far right, speaks during an event at the central bank's headquarters in Tokyo, Japan, on Wednesday, May 31, 2023. Ueda said central banks need to be more careful about how they communicate with increase in their toolkits and advancements in monetary policy making. Photographer: Noriaki Sasaki/The Yomiuri Shimbun/Bloomberg via Getty ImagesAsia-Pacific markets are set for a mixed open Friday after the S&P 500 and Nasdaq Composite posted a sixth-straight day of gains and investors in the region look to the Bank of Japan's rate decision. In Australia, futures for the S&P/ASX 200 were at 7,167, slightly lower than the index's last close of 7,175. Hong Kong's Hang Seng index is set to extend its rally after gaining over 2% on Thursday, with futures at 19,951 compared with the HSI's close of 19,828.92.

Persons: Kazuo Ueda, Ueda, Noriaki Sasaki Organizations: Bank of Japan, Yomiuri Shimbun, Bloomberg, Getty Images, Nasdaq, Bank of, Bank of America, Nikkei Locations: Tokyo, Japan, Getty Images Asia, Pacific, Chicago, Osaka, Australia

☆ FACTBOX BOJ's next steps and triggers for policy shift
▼ + stars: | 2023-06-15 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

While Ueda has stressed the BOJ will be in no rush to dial back stimulus, the central bank is dropping clues on possible triggers of a policy shift. ABANDON OR TWEAK YIELD TARGETIn ending YCC, the first step will be to abandon or modify the 10-year yield target. One idea would be to widen the band around the yield target, now set at 50 basis points on either side. TWEAKING FORWARD GUIDANCEBefore tweaking the yield cap, the BOJ could drop more hints of a policy shift such as by modifying forward guidance. Big upward revisions to its inflation forecasts at a July quarterly review would signal the BOJ's conviction that conditions for a policy shift are falling into place.

Persons: Kazuo Ueda's, Ueda, YCC, Leika Kihara, Sam Holmes Organizations: Bank of Japan, Thomson Locations: TOKYO, Japan

☆ Euro advances, surges to 15-year peak vs yen, after ECB lifts rates
▼ + stars: | 2023-06-15 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/2] Euro and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The ECB lifted rates by 25 basis points (bps), as expected, to 3.5%, the highest in 22 years. "There were hawkish elements in the latest ECB press conference, in particular the upwardly revised 2025 inflation forecasts. Versus the yen, the euro rose 1.2% to 153.52 , hitting 153.68 yen, the highest since September 2008, following the ECB decision. We have assumed for some time that the rate-cycle peak would be a negative for the dollar peak yields will bolster risk-taking and encourage investors to deploy capital away from the U.S.

Persons: Dado Ruvic, Mark Wall, Christine, Lagarde, Jerome Powell, Shaun Osborne, Gertrude Chavez, Dreyfuss, Samuel Indyk, Rocky Swift, Shweta Agarwal, Emelia, Jonathan Oatis Organizations: U.S, REUTERS, YORK, European Central Bank, ECB, Deutsche Bank, U.S . Federal Reserve, Bank of, Scotiabank, U.S ., Reuters, U.S . Labor Department, Thomson Locations: Bank of Japan, Toronto, New York, London

☆ Dollar ekes out gain after Fed hike hint; yen slips
▼ + stars: | 2023-06-15 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The Fed's policy decision snapped a string of 10 consecutive rate hikes, but the projections, or dot plot, showed policymakers expect two more increases by the end of 2023. The euro was last flat versus the dollar at $1.0841 after touching a four-week high of $1.0865 on Wednesday. "Dollar-yen is at year highs and markets are increasingly beginning to talk about whether a further rise could trigger the BoJ to verbally and also effectually intervene in the FX market," Lomholt added. Japan's top government spokesperson said on Thursday that volatile currency market moves were undesirable and the authorities would take "appropriate" action as needed. The kiwi dollar sank 0.6% to $0.6172 after data showed New Zealand's economy slipped into a technical recession in the first quarter, putting further rate hikes in doubt.

Persons: Jerome Powell, Fed, Mohit Kumar, Kristoffer Kjær Lomholt, Lomholt, Sim Moh Siong, Samuel Indyk, Rocky Swift, Edmund Klamann, Sohini Goswami, Shweta Agarwal Organizations: U.S, Federal Reserve, European Central Bank, Jefferies, Bank of Japan, Money, ECB, Danske Bank, The Bank of, FX, People's Bank of China, Singapore, Thomson Locations: The Bank of Japan

☆ Japan will stop yen decline beyond USD/JPY 145, most economists say: Reuters poll
▼ + stars: | 2023-06-15 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +4 min

TOKYO, June 15 (Reuters) - Japan's government and central bank will act to stop the yen's decline if it depreciates to the 145 per U.S. dollar level, more than half of economists polled by Reuters said. Fifteen of 28 economists (54%) said the government and the BOJ will take steps such as issuing a warning or intervening into the currency market once the yen weakens beyond 145 per greenback, the June 8-13 poll found. In a separate question on the weak yen's impact on BOJ policy, nine economists (31%) said the central bank's decisions could be swayed by a yen depreciation beyond 145 per dollar. In the poll, all but one - JP Morgan - out of 28 economists corroborated the view, citing an improved bond market functionality and Governor Kazuo Ueda's accommodative remarks so far. BOJ's Ueda has said an end to easy policy would depend on the economy achieving 2% inflation coupled with pay growth.

Persons: Harumi Taguchi, Morgan, Kazuo Ueda's accommodative, Hiroshi Watanabe, BOJ's Ueda, Satoshi Sugiyama, Kantaro Komiya, Veronica Khongwir, Anant Chandak, Christian Schmollinger Organizations: Reuters, Bank of Japan, P, Financial Services Agency, Sony Financial Group, Thomson Locations: TOKYO

☆ Major central banks not done with rate hikes just yet
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +6 min

[1/2] A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. Fed policymakers paused on its rate hikes since March 2022, and kept the federal funds target rate unchanged at 5.25%, its highest level since August 2007. Reuters Graphics5) AUSTRALIAAustralia's central bank raised its benchmark rate by a quarter-point on June 6 to an 11-year high of 4.1%. It expects inflation to stay above its 2% target through 2025 and hinted at more rate hikes ahead. Reuters Graphics10) JAPANThe Bank of Japan remains the world's most dovish major central bank under new Governor Kazuo Ueda.

Persons: Heiko Becker, Jerome Powell, BoE, Christine Lagarde, Thomas Jordan, Kazuo Ueda, Samuel Indyk, Nell Mackenzie, Alun John, Naomi Rovnick, Harry Robertson, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Dhara Ransinghe, Jonathan Oatis Organizations: European Central Bank, REUTERS, Heiko Becker LONDON, U.S . Federal Reserve, Bank of England, Reuters, Reserve Bank of New, UNITED, Fed, Bank of Canada, BRITAIN, Bank of, ECB, Norges Bank, Reuters Graphics Reuters, Swiss National Bank, Bank of Japan, Thomson Locations: Frankfurt, Germany, Canada, Japan, dovish, Reserve Bank of New Zealand, U.S, Bank of England, AUSTRALIA, SWEDEN, NORWAY, SWITZERLAND, JAPAN

☆ BOJ to keep ultra-low rates, focus on Ueda's inflation views
▼ + stars: | 2023-06-15 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The central bank is also likely to keep intact a pledge to "patiently" sustain massive stimulus to ensure Japan sustainably achieves its 2% inflation target accompanied by wage hikes. The BOJ review comes after the Federal Reserve's decision on Wednesday to pause interest rate hikes as it closely watches the lagged economic impact of past monetary tightening. But he also said the BOJ will "act swiftly" if its inflation projections prove wrong, and pointed to signs that corporate price-setting behaviour was starting to change. With companies offering the largest pay hikes in three decades, the BOJ is also dropping hints that Japan's prolonged era of wage stagnation may be ending. In an academic paper issued in May, the BOJ said inflation and wage growth could accelerate abruptly once costs exceed a certain threshold - and that once wages begin to rise, the trend could persist.

Persons: Kazuo Ueda, Ueda, Leika Kihara, Sam Holmes Organizations: Bank of Japan, Federal, Reuters, Thomson Locations: BOJ, TOKYO, Japan

☆ Dollar gains after Fed hike hint; yen tumbles
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: +2 min

The U.S. dollar strengthened on Thursday after the Federal Reserve left borrowing costs unchanged but signaled further rate hikes to come as attention turned to the European Central Bank policy announcement later in the day. The Fed's policy decision snapped a string of 10 consecutive rate hikes, but the projections, or dot plot, showed policymakers expect two more increases by the end of 2023. The market's attention is now turning to other central bank decisions late this week, with the ECB policy announcement on Thursday before the Bank of Japan on Friday. "Dollar-yen is at year highs and markets are increasingly beginning to talk about whether a further rise could trigger the BoJ to verbally and also effectually intervene in the FX market," Lomholt added. Japan's top government spokesperson said on Thursday that volatile currency market moves were undesirable and the authorities would take "appropriate" action as needed.

Persons: Powell, Fed, Mohit Kumar, Kristoffer Kjær Lomholt, Lomholt Organizations: U.S, Federal Reserve, European Central Bank, Jefferies, Bank of Japan, Money, ECB, Danske Bank, The Bank of, FX Locations: The Bank of Japan

June 16 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Bank of Japan, the most dovish major central bank in the world, announces its latest policy decision on Friday, with markets highly sensitive to signs of when and to what degree it will ditch its super-loose policy. The BOJ follows surprisingly aggressive interest rate increases and guidance recently from policymakers in Canada and Australia, and this week's hawkish signals from the European Central Bank and, to a lesser extent, the U.S. Federal Reserve. The BOJ remains the outlier among major central banks, promising to maintain its loose policy until it is sure inflation meets the 2% target. If Japanese assets are any indication, investors expect Ueda and his colleagues to err on the dovish side.

Persons: Jamie McGeever, Kazuo Ueda's, Ueda, Fed's Bullard, Waller, Barkin Organizations: The Bank of Japan, Nasdaq, European Central Bank, U.S . Federal Reserve, Bank of America, ECB, Nikkei, Thomson, Reuters Locations: Canada, Australia, Japan

☆ Asian shares up, dollar wobbly as US inflation data reinforces Fed pause bets
▼ + stars: | 2023-06-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

The much-watched U.S. CPI report overnight showed prices barely rose in May, with just a 0.1% increase from the prior month. On an annual basis, consumer prices rose 4%, the smallest in more than two years, slowing from April's 4.9%. Short-dated German yields jumped to a 3-month high overnight as investors looked to the rate decision from the European Central Bank on Thursday. Oil prices were lower in early trade after receiving a 3% boost on China's policy rate cut. U.S. crude futures were off 0.5% to $69.12 per barrel, while Brent crude futures fell 0.4% to $74.02 per barrel.

Persons: China's, Tony Sycamore, Jerome Powell, Stella Qiu, Shri Navaratnam Organizations: Nikkei, Federal Reserve, U.S, CPI, Fed, Tokyo's Nikkei, Bank of Japan, Nasdaq, IG, Bank of England, European Central Bank, Brent, Thomson Locations: China, Hong Kong, SYDNEY, Asia, Pacific, Japan

That yen hoard has mostly been held as cash with the aim of ploughing into Japanese bonds when yields eventually turn higher. "We're all waiting for the end of YCC so we can buy JGBs," said a Japanese pension fund manager who requested anonymity as he is not authorized to speak to media. Japanese banks have ploughed money into overseas bonds, but insurance firms and pension funds have kept their powder dry. MARKETS WONT BLINKSuch is the positioning and inertia among long term Japanese investors that analysts expect markets to barely blink even if the BOJ plays for time this week. Lifers and pension funds say they have very little exposure to Japanese government bonds, so a surprise policy change won't hurt them either.

Persons: Androniki, Haruhiko Kuroda, Kazuo Ueda, Bart Wakabayashi, Hirofumi Suzuki, Suzuki, Kevin Buckland, Ankur Banerjee, Vidya Ranganathan Organizations: REUTERS, Bank of, Japan, Nippon Life Insurance, Sumitomo Life Insurance, Insurance, State, Thomson Locations: Japan, Tokyo, TOKYO, SINGAPORE, YCC, Singapore

☆ Factbox: BOJ's next steps and triggers for policy shift
▼ + stars: | 2023-06-13 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Persons: Kazuo Ueda's, Ueda, YCC, Leika Kihara, Sam Holmes Organizations: Bank of Japan, Thomson Locations: TOKYO, Japan

☆ Japan’s economic scars might blind it to inflation
▼ + stars: | 2023-06-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +8 min

Investors worry about market ructions if Ueda hikes rates now but there is another risk: that he waits too long. Reuters GraphicsUeda’s inaction – and the domestic markets’ positive response – have bought him time to focus on evaluating macroeconomic fundamentals, particularly inflation. The country only emerged from a decades-long deflationary rut relatively recently, so local economists, executives and consumers are unused to worrying about consumer prices rising too fast. The government’s latest draft of its long-term economic plan, seen by Reuters on June 2, remains focused on eradicating Japan's “long-held deflationary mindset”. "We expect inflation to quite clearly slow below 2%" toward the middle of the current fiscal year, Ueda told parliament.

Persons: Kazuo Ueda, Haruhiko Kuroda, Ueda, ’, –, Richard Koo, Shinzo Abe, Francesco Guerrera, Katrina Hamlin Organizations: Reuters, Bank of Japan, Nikkei, Nasdaq, Bank for International, Toyota, Toshiba, Black Monday, Japan Inc, International Monetary Fund, of, Thomson Locations: TOKYO, Japan, United States, U.S, Great, China, Europe, Germany, Italy, of Japan’s

☆ Dollar dips ahead of US inflation data, central bank meetings
▼ + stars: | 2023-06-13 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Those expectations kept risk sentiment buoyant, pinning the U.S. dollar near multi-week lows against the risk-sensitive Australia and New Zealand dollars. The euro gained 0.04% to $1.0760, with traders also focused on Thursday's interest rate decision from the European Central Bank, following its policy meeting. The U.S. dollar index edged marginally higher to 103.59, after falling to 103.24 on Monday, its lowest since May 23. "The central bank will likely continue to send a dovish message or one of no intention of policy change until it changes direction." In Asia, China's central bank cut its seven-day reverse repo rate by 10 basis points to 1.90% from 2.00% on Tuesday, sending the yuan falling in the offshore market .

Persons: Joseph Capurso, Jane Foley, Chong, Rae Wee, Edmund Klamann Organizations: Federal Reserve, U.S, Labor Department's CPI, Commonwealth Bank of Australia, Bank of England, European Central Bank, ECB, Rabobank, Bank of Japan, Standard Chartered Bank Korea, Thomson Locations: SINGAPORE, Australia, New Zealand, Korea, Japan, Asia

☆ Dollar dips ahead of U.S. inflation data, central bank meetings
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +3 min

Persons: Joseph Capurso, Jane Foley, Chong Organizations: Federal Reserve, U.S, Labor Department's CPI, Commonwealth Bank of Australia, Bank of England, European Central Bank, ECB, Rabobank, Bank of Japan, Standard Chartered Bank Korea Locations: Australia, New Zealand, Korea, Japan, Asia

The pan-European STOXX 600 index (.STOXX) closed 0.2% higher, with the DAX (.GDAXI) up 0.9%. Luxury majors LVMH (LVMH.PA) and Hermes (HRMS.PA) climbed 1.8% and 3%, respectively, further supporting the STOXX 600. Meetings of the U.S. Federal Reserve, the European Central Bank and the Bank of Japan are lined up for the week. The STOXX 600 started the year on a stronger footing compared to the S&P 500 index (.SPX) but lost steam during the second quarter due to a rise in preference for growth-oriented stocks as opposed to value stocks. Shares in SES tumbled 14.6% to the bottom of the STOXX 600 after the satellite company announced its chief executive Steve Collar would step down.

Persons: BOJ, Bernstein, DAX, Lionel Messi's, Hermes, Daniela Hathorn, Sergio Ermotti, he’s, Michael Hewson, Silvio Berlusconi, Steve Collar, Shreyashi Sanyal, Bansari, Eileen Soreng Organizations: Fed, ECB, Adidas, UBS, CS, Inter Miami, U.S . Federal Reserve, European Central Bank, Bank of Japan, Credit Suisse, CMC Markets, MEDIAFOREUROPE, Italian, Novartis, Seattle, Chinook Therapeutics, SES, BNP, Exane, Thomson Locations: Europe, Bengaluru

Monetary policy meetings of the Fed, the European Central Bank (ECB) and the Bank of Japan (BOJ) will set the tone for the week as markets seek clues from policymakers on the future path of interest rates. U.S. May inflation data is also out on Tuesday as the Fed kicks off its two-day meeting. "We are pretty much with consensus, expecting the Fed to stay put this week and a 25 basis point hike from the ECB," Nordea's Christensen said. The U.S. dollar index clocked a loss of nearly 0.5% last week, its worst weekly drop since mid-April, and was last down 0.1% at 103.43. The euro rose 0.2% to $1.0768, having risen 0.4% last week, its first weekly gain in roughly a month.

Persons: Niels Christensen, Nordea's Christensen, " Christensen, Goldman Sachs, Samuel Indyk, Rae Wee, Simon Cameron, Moore, Angus MacSwan Organizations: Federal Reserve, European Central Bank, Bank of Japan, Fed, ECB, Reuters, U.S, Reserve Bank of New, People's Bank of, Thomson Locations: Reserve Bank of New Zealand, Australia, People's Bank of China

☆ Asia shares near month high ahead of central bank meetings
▼ + stars: | 2023-06-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, June 12 (Reuters) - Asian shares started tentatively on Monday as investors braced for central bank meetings from Europe, Japan and the United States this week, along with U.S. inflation data that will likely influence the Federal Reserve's monetary policy path. China stocks (.SSEC) eased 0.01%, while Hong Kong's Hang Seng Index (.HSI) opened up 0.3%. Markets are pricing for a 71% probability the U.S. central bank will stand pat when it meets on June 13-14, according to CME FedWatch tool. While doubts persist among investors which path the Fed will take this week, they are more certain the European Central Bank, which meets on Thursday, will raise rates and remain hawkish. The yen eased 0.01% to 139.39 per dollar ahead of the Bank of Japan's (BOJ) policy meeting on Friday.

Persons: Hong, HSI, Lagarde, Mohit Kumar, Kumar, Sterling, Brent, Jacqueline Wong Organizations: Federal, Japan's Nikkei, Reserve Bank of Australia, Bank of Canada, Citi, European Central Bank, Jefferies, ECB, Bank of Japan's, Reuters, Thomson Locations: SINGAPORE, Europe, Japan, United States, Asia, Pacific, China, Turkish

☆ Dollar steady, with Fed pause eyed in busy c.bank week
▼ + stars: | 2023-06-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Policy meetings of the Fed, the European Central Bank (ECB) and the Bank of Japan (BOJ) will set the tone for the week, as markets seek clues from policymakers on the future path of interest rates. The U.S. dollar index clocked a loss of nearly 0.5% last week, its worst weekly drop since mid-April, and was last marginally higher at 103.58. The euro slipped 0.02% to $1.0744 in early Asia trade, after having risen 0.4% last week, its first weekly gain in roughly a month. "Central banks have raised rates aggressively over the past 12-15 months and given the lagged effects with which monetary policy affects demand, are central banks teeing up for a pause, following the RBNZ's example?" "We change our BOJ call to no YCC revision at this week's meeting," said Societe Generale's Jin Kenzaki, referring to the central bank's controversial yield curve control policy.

Persons: Alvin Tan, Jin Kenzaki, Rae Wee, Muralikumar Organizations: European Central Bank, Bank of Japan, Asia FX, RBC Capital Markets, Money, U.S, Reuters, ECB, ANZ, Reserve Bank of New, Thomson Locations: SINGAPORE, Asia, Australia, Reserve Bank of New Zealand

☆ Japan's wholesale inflation eases, goods close to consumers continue to rise
▼ + stars: | 2023-06-12 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Summary May wholesale prices up 5.1% yr/yr vs f'recast +5.5%Slowdown in wholesale inflation in line with BOJ viewFood, machinery prices up, signals broadening inflationTOKYO, June 12 (Reuters) - Japan's wholesale inflation slowed for a fifth consecutive month in May because of sliding fuel and commodity prices, data showed on Monday, a sign cost-push pressure that has driven up consumer inflation may be subsiding. The data underscores the central bank's view that consumer inflation will slow in coming months as global commodity prices slide from last year's peak levels. The corporate goods price index (CGPI), which measures the price companies charge each other for goods and services, rose 5.1% in May compared with a year earlier, BOJ data showed, slower than the median market forecast for a 5.5% gain. The rise came after a revised 5.9% increase in April and was well off the peak of 10.6% hit in December last year, as prices of electricity, fuel, nonferrous metals and chemical goods fell, data showed. Japan's core consumer inflation hit 3.4% in April as companies continued to raise prices, casting doubt on the BOJ's view that inflation will slowly move back below 2% toward the latter half of the current fiscal year ending in March 2024.

Persons: Leika Kihara, Kim Coghill, Gerry Doyle Organizations: Bank of Japan, Reuters, Thomson

☆ Morning Bid: Markets drift ahead of central bank extravaganza
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Ankur BanerjeeAfter surprise interest rate hikes from the Reserve Bank of Australia and Bank of Canada, investors are a bit nervy heading into a week that brings us three major central banks meetings. Last week's moves have inflamed uncertainty in investor minds about whether the U.S. Federal Reserve will skip or surprise on Wednesday. CME Fedwatch tool showed the probability of the Fed standing still is over 70%, but with inflation data due on Tuesday there may just be a late sting in the tail. No such surprises are expected from the European Central Bank or Bank of Japan, with markets widely expecting the ECB to hike and stay hawkish, and the BOJ to stick to its ultra-loose monetary policy. Reuters GraphicsReuters GraphicsWith not a lot on the data calendar, stocks in Asia are muted, while the U.S. dollar is steady.

Persons: Ankur Banerjee, BioNTech, Crispin Odey, Nicola Sturgeon, Christopher Cushing Organizations: Ankur, Reserve Bank of Australia, Bank of Canada, Fed, ECB, U.S . Federal Reserve, CME, European Central Bank, Bank of Japan, Reuters Graphics Reuters, U.S ., Nikkei, Odey, Management, Scottish First, Scottish National Party ., Thomson Locations: Asia, Germany, Britain, Denmark, Czech Republic, Turkey, Singapore

Search resuls for: "BOJ"

25 mentions found