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JPY Main Focus This Week:
- Economic Data Type: none
- Server Time: none
- Quick view: none
Quick View: Dovish
- The Bank of Japan (BOJ) maintained its interest rates and monetary policy in April 2019 at -0.1% and maintained a 10-year government bond yield target at 0%.
- The next BOJ meeting is July 30, 2019.
- BOJ’s economic data is the Consumer Price Index and the Gross Domestic Product.
- Policymakers warn that the risk of a drop in the economy abroad may be huge. Therefore, the focus should be on the impact on the firm and household sentiment.
Main Economics Data of BOJ
- Japan’s consumer price inflation dropped to 0.7% year-on-year in May 2019 from a six-month high of 0.9% in the previous month and in line with market consensus.
- The Japanese economy grew by 2.1% on an annual basis for the first quarter of 2019, after the 1.6% increase in the fourth quarter of 2018.
Expected Bias: JPY Bearish
- There has been no change in Bank of Japan’s monetary policy, warning that the risk of the global economic downturn may be huge.
- Asian market sentiment today rose as investors were optimistic of US-China trade negotiations while global crude oil prices also rose following US and Iran tensions.