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☆ Nomura: Japan economy still doing well, foresee BoJ December rate hike
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNomura: Japan economy still doing well, foresee BoJ December rate hikeYujiro Goto of Nomura expects the dollar-yen cross to trade between 140 and 145 as concerns over new Japanese Prime Minister Shigeru Ishiba's policies dissipates. Japanese businesses remain resilient, paving the way for a potential rate hike by the Bank of Japan in December 2024.

Persons: Goto, Nomura, Shigeru Organizations: Email Nomura, Bank of Japan Locations: Japan

☆ Japan still expected to stick to hiking cycle despite PM Ishiba's dovish turn
▼ + stars: | 2024-10-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Despite dovish comments from Japanese Prime Minister Shigeru Ishiba leading to a sharp plunge in the yen , market analysts aren't budging from their Bank of Japan policy expectations for the longer term. The yen slid to as weak as 147.15 against the U.S. dollar on Wednesday, after Ishiba told reporters that the current economic climate does not require an additional rate increase. The prime minister's comments marked a drastic change in tone compared with the messaging on his recent campaign trail. On Thursday morning, BOJ board member Asahi Noguchi said that the central bank should continue its accommodative monetary policy for the time being. He noted that it will take a while to change the public's perception that prices will not increase significantly in the future.

Persons: Shigeru Ishiba, aren't budging, Ishiba, Kazuo Ueda —, Abe Shinzo's, Stefan Angrick, Angrick, Asahi Noguchi Organizations: Bank of, U.S, Bank of Japan, Liberal Democratic Party, Moody's, CNBC Locations: Bank of Japan

☆ Asia-Pacific markets mixed after Powell signals smaller rate cuts; China markets closed for holiday
▼ + stars: | 2024-10-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."

Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan

☆ Japan's next prime minister is a career dissenter, but experts doubt he can govern as one
▼ + stars: | 2024-10-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Shigeru Ishiba, the man set to become the next leader of Japan, has made a career as a political outsider and opponent of party orthodoxy. However, some experts doubt that the former defense minister will manage to govern as such. The election ultimately came down to a runoff in which Ishiba defeated economic security minister Sanae Takaichi, who presented herself as the more Abenomics-aligned candidate. Japan's parliament is expected to formally vote Ishiba into the role Tuesday. He also reportedly suggested he would follow Prime Minister Fumio Kishida's approach of trying to pull Japan out of years of deflationary pressures.

Persons: Shigeru Ishiba, Shinzo Abe, Abe, Tobias Harris, Ishiba, Sanae Takaichi, he's, Sayuri Shirai, Takaichi, there's, Fumio, Shirai Organizations: Liberal Democratic Party, Bank of, LDP, Japan Foresight, Keio University Locations: Tokyo, Japan, Abenomics

☆ Here’s why Japan’s stocks are plunging after Shigeru Ishiba’s win
▼ + stars: | 2024-09-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. Ishida had beaten Economic Security Minister Sanae Takaichi in the final round of the Liberal Democratic Party election on Friday, sending the yen into a volatile session. A higher interest rate typically strengthens the yen and puts pressure on Japanese stock markets, which are heavily weighted by exporters. Chinese rally puts pressureThe Nikkei's decline on Monday also comes at a time when China's markets have been surging. Stock Chart Icon Stock chart icon

Persons: Shigeru Ishiba, Ishida, Sanae Takaichi, Ryota Abe, Takaichi, Ishiba, Abe, Steven Glass, CNBC's Organizations: Economic, Liberal Democratic Party, Bank of Japan, Sumitomo Mitsui Banking Corporation, CNBC, Bank of, Pella Funds Management, CSI Locations: Tokyo, Japan, Pella, Hong

☆ Analyst: Ishiba becoming Japan's Prime Minister increases our resolve that BOJ will not hike rates
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst: Ishiba becoming Japan's Prime Minister increases our resolve that BOJ will not hike ratesSteven Glass of Pella Funds says the Japan market looks 'distorted' and is not an investor. He says Japan's weak GDP growth, imported inflation and stock market impact are reasons for BOJ to not hike interest rates.

Persons: Steven Glass Organizations: Japan's, Pella Funds Locations: Pella, Japan

☆ Bank of Japan board members split over monetary policy path, meeting minutes show
▼ + stars: | 2024-09-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Bank of Japan board members are split over the future path of interest rates, minutes of the central bank's monetary policy meeting in July showed. The board also pointed out that import prices had turned positive again, and upside risks to prices required attention. Some board members pointed out that "it was appropriate for the Bank to make moderate adjustments" given such risks. Another member pointed out that medium-to long-term inflation expectations were not anchored at 2%, and prices remained vulnerable to downside risks. As such, the BOJ should avoid a situation where the market expectations for future rate hikes "increase excessively."

Organizations: Bank of, Bank of Japan, Bank Locations: Bank of Japan, Tokyo

☆ Aussie dollar near 2024 high before RBA; yen drifts as Ueda awaited
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +3 min

The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".

Persons: Kazuo Ueda, —, Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China

☆ Bitcoin jumps while Japan holiday dulls most currencies
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +4 min

The Bank of Japan left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points rate cut, put a pause to the yen's sharp gains this month. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. The Fed's rate cut "appears to have calmed market fears of a U.S. recession", Goldman Sachs said in a note. Meanwhile, the majority of economists polled by Reuters anticipate two more 25 bps rate cuts at the Fed's final two meetings this year.

Persons: Bitcoin, Goldman Sachs, Christopher Waller, Fumio Kishida, Takaichi —, —, Shigeru Ishiba, Shinjiro Koizumi, Junichiro Koizumi, Takaichi, pare Organizations: Federal, Bank of Japan, Japan, U.S, U.S ., FedWatch, Treasury, Reuters, House Republicans, Liberal Democratic Party, Barclays, The Bank of Locations: United States, Japan, U.S, The Bank of England

☆ A Takaichi win would have big implications on BOJ policy: Strategist
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's LDP election: Takaichi win would have 'biggest implications' on BOJ policy, strategist saysMitul Kotecha, Barclays' head of FX and emerging markets macro strategy in Asia, says there would be pressure on the Bank of Japan to hike rates "less aggressively than would've been anticipated" or even a "delay in a January move."

Persons: Takaichi, Mitul Kotecha, would've Organizations: Barclays, Bank of Japan Locations: Asia

☆ Japan top currency diplomat says watching for any build-up of yen carry trades: report
▼ + stars: | 2024-09-21 | by ( ) www.cnbc.com time to read: +1 min

Sheets of newly-designed Japanese 10,000 yen banknotes move through a machine at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 19, 2024. Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption. Japan's top currency diplomat Atsushi Mimura said authorities are "always watching markets" as a renewed build-up of yen carry trades could heighten market volatility, public broadcaster NHK quoted him as saying in an interview that ran on Friday. Mimura said yen carry trades built up in the past are likely to have been mostly unwound, according to NHK. We are always watching markets to ensure that does not happen," Mimura was quoted as saying.

Persons: Atsushi Mimura, Mimura, Masato Kanda, Yen Organizations: National Printing Bureau, NHK, Bank of Japan Locations: National Printing Bureau Tokyo, Tokyo, Japan

☆ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. The Bank of Japan kept its benchmark interest rate steady at "around 0.25%" — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan's economy has recovered moderately, the central bank said in its official statement, while acknowledging "some weakness has been seen in part." BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if the economy and inflation stayed in line with the central bank's projection. On Thursday, The U.S. Federal Reserve cut interest rates by 50 basis points to a range of 4.75% to 5.0%.

Persons: BOJ, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Nikkei, U.S . Federal Reserve Locations: Tokyo

☆ BOJ likely to hike rates in January, economist says
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ likely to hike rates in January, economist saysKazuo Momma, executive economist at Mizuho Research & Technologies, explains why the Bank of Japan has "no reason" to "rush" into a rate-hiking cycle and will likely be "patient" until January.

Persons: Kazuo Momma Organizations: Mizuho Research & Technologies, Bank of Japan

☆ Japan's Nikkei leads gains in Asia Pacific after Wall Street soars on Fed's jumbo rate cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Asia-Pacific markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut. Japan's core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it's expected to keep interest rates unchanged at 0.25%. The Japanese yen was nearly flat at 142.67.

Persons: PBOC Organizations: Japan's Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Appreciation of the yen could slow the pace of BOJ rate hike, economist says
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAppreciation of the yen could slow the pace of BOJ rate hike, economist saysTakahide Kiuchi, executive economist at Nomura Research Institute, expects that the Bank of Japan will hike rates in January 2025.

Persons: Takahide Kiuchi Organizations: Nomura Research Institute, Bank of Locations: Bank of Japan

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage point
▼ + stars: | 2024-09-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin was recently higher by 3.5% at $62,417.48, according to Coin Metrics, building on a rally underway before the central bank decision Wednesday. Stocks tied to the price of bitcoin climbed in early trading Thursday. MicroStrategy , widely used as a high beta play on the price of bitcoin, gained 5%. It isn't out of the woods yet, however, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. "Bitcoin has some time until the BOJ makes the decision and could extend its gain during Thursday's U.S. session.

Persons: bitcoin, Stocks, Yuya Hasegawa, Bitcoin Organizations: Metrics, Federal Reserve, Nasdaq, Bank of, Thursday's U.S

☆ Dollar pinned down by 50 bp Fed cut bets
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +2 min

The dollar traded near its lowest levels of the year on Tuesday, on the eve of the expected the start to a U.S. easing cycle that markets are betting may begin with an outsized rate cut. The euro rallied overnight to $1.1138 and traded around there early in the Asia session, not far from the year's high against the dollar of $1.1201. Fed funds futures rallied on Monday to push the chance of a 50 basis point rate cut to 67%, against 30% a week ago. "That's because the contrast between central bank outlooks will remain starkest between the Fed and the BoJ, for the time being." The U.S. dollar index weakened 0.4% overnight to 100.7, not far from its 2024 low made last month at 100.51.

Persons: Sterling — Organizations: Macquarie, Fed, Bank of, The Bank of England, New, U.S Locations: U.S, Asia, Tokyo, Bank of Japan, New Zealand

☆ BOJ unlikely to raise rates this year amid leadership change and cooling economy, economist says
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ unlikely to raise rates this year amid leadership change and cooling economy, economist saysWith Japan's upcoming party leadership election on Sept. 27 and its cooling economy, "moving in that environment is tricky" for the Bank of Japan, said Martin Schulz, chief policy economist at Fujitsu.

Persons: Martin Schulz Organizations: Bank of Japan, Fujitsu

☆ CNBC Daily Open: Rate cuts might not benefit tech the most
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record close for DowThe S&P 500 and Dow Jones Industrial Average rose on Monday, with the Dow notching a record close. Next move for the BOJThe Bank of Japan won't be raising interest rates at its September meeting, according to a CNBC survey of 32 analysts. [PRO] "Golden age of fixed income"The U.S. Federal Reserve is poised to cut interest rates this week.

Persons: Shaktikanta Das, Biden, Rick Rieder Organizations: Trade Center, CNBC, Dow, Dow Jones, Nasdaq, Nikkei, U.S ., Midea Group, Hong Kong, Bank of Japan, Bank of India, Intel, U.S . Federal Locations: Manhattan, Jersey City , New Jersey, Asia, Pacific, Hong

☆ The Bank of Japan's next rate hike may come in December, not this week: CNBC survey
▼ + stars: | 2024-09-16 | by ( Lin Lin | ) www.cnbc.com time to read: +1 min

Bank of Japan Governor Kazuo Ueda attends a session in the financial affairs committee at the lower house of parliament on Aug. 23, 2024 in Tokyo. Economists, FX strategists and Japan-focused fund managers are split over the timing of the Bank of Japan's next interest rate hike, according to a new CNBC International survey. BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if inflation stayed on course, while also closely monitoring financial market conditions. "We think the central bank will be keen to move gradually and allow the impact of the July rate hike to be fully felt," said Jessica Hinds, director in Fitch Ratings' economics team. CNBC's survey found 18.75% of respondents expect a hike for the October meeting, while another 25% said a hike was possible.

Persons: Kazuo Ueda, Jessica Hinds Organizations: Japan, FX, Bank of Japan's, CNBC International, CNBC, Fitch Locations: Tokyo, Japan

☆ Currencies listless as markets waffle over Fed rate cut
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +4 min

A quarter-point reduction by the Fed as it kicks off its rate cuts is still seen as the slightly more likely outcome, but only marginally so. Futures price a total of 125 basis points in rate cuts in 2024. Investors are also looking to the Bank of Japan's interest rate decision on Friday, when it is expected to keep its short-term policy rate target steady at 0.25%. Bank of Canada Governor Tiff Macklem meanwhile opened the door to stepping up the pace of interest rate cuts, the Financial Times reported on Sunday. The BoC, after keeping its key policy rate at 5%, a more than two-decade high, for a year, has trimmed it by a quarter point three times in a row since June.

Persons: Chris Weston, Fumio Kishida, Sanae Takaichi, Christine Lagarde, Philip R, Lane, Luis de Guindos Organizations: U.S, Bank of England, Bank of Japan, Treasury, Fed, FedWatch, Bank of, Liberal Democratic Party, Sterling, European Central Bank, ECB, Bank of Canada, Financial Times, BoC Locations: Japan, Asia, China, South Korea

☆ Dollar weak as traders add to wagers of big rate cut from Fed
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +3 min

While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."

Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America

☆ BOJ looking to signal a rate hike before end of 2024, strategist says
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ looking to signal a rate hike before end of 2024, strategist saysGeoff Howie, market strategist at the Singapore Exchange, discusses the outlook for the central bank's monetary policy and Southeast Asian markets.

Persons: Geoff Howie Organizations: Singapore Exchange

☆ Dollar firm as inflation data douse bets for big Fed rate cut
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +3 min

The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. Early on Wednesday, Bank of Japan board member Junko Nakagawa reinforced the central bank's tightening bias by saying low real rates leave room for further rate hikes. As a result, traders essentially priced out the chances of a 50-basis point rate cut on Sept. 18, paring the odds to 15% versus 85% probability for a 25-bp reduction.

Persons: Junko Nakagawa, Naoki Tamura, Tony Sycamore Organizations: Federal, European Central Bank, Bank of Japan, IG, ECB, Sterling, Swiss Locations: U.S

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