- The BOJ lifted its policy rate by a quarter point to 1.25%, continuing its exit from ultra-loose policy.
- The yen extended its decline against the dollar after Governor Ueda gave mixed signals about the future path of interest-rate hikes.
- The US is expected to hold off announcing new tariffs on China and other trading partners until after next week's summit between President Trump and President Xi Jinping, deferring a potential trade escalation.
- UBS Global Wealth Management's Paul Donovan discussed the BOJ rate decision, framing the market read on the yen and Japanese rates.
Quotes
“The yen extends its drop against the dollar after BOJ Governor Ueda gave mixed signals about future interest-rate hikes.”
“The central bank lifted interest rates by a quarter point to 1.25%.”
“The US is expected to hold off announcing new tariffs on China and other trading partners until after next week's summit between President Trump and President Xi Jinping.”