Yen Strengthens After Bank of Japan Raises Rates
The Bank of Japan hiked interest rates to 0.5%, the highest level since October 2008, and pledged to raise rates further if the economy and inflation continue in line with projections. The bank’s pledge to seek more rate hikes sent Japanese government bond yields higher and boosted the yen.
Setting rates in Japan will become a delicate balancing act if tariffs materialize.
The move comes in line with expectations from CNBC’s survey, where an overwhelming majority of economists predicted a hike.
(Bloomberg) -- The yen is primed for further gains after the Bank of Japan sent hawkish signals while raising the benchmark interest rate, according to strategists. The upward revision in ...
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