Tokyo: The Bank of Japan has held off on lifting negative interest rates, sending the yen lower as its governor said it was in no rush to change its policy before the US Federal Reserve considers.
Service inflation accelerated to 2% from 1.6% in June, driven by higher costs for telecom, lodging and entertainment, the internal affairs ministry reported on Friday. Barring the impact of a 1997 sales tax hike, service inflation had remained below 2% since 1993.
BOJ Loosens Grip on Long-Term Yields in Ueda s First Surprise bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The Bank of Japan jolted financial markets by loosening its grip on bond yields in Governor Kazuo Ueda’s first surprise move since taking the helm, a step that will likely spur talk of potential policy normalization to come.
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