Currency markets tell Kuroda he can't turn back the clock on yen
More stimulus would only slow yen rally, not reverse it, as BOJ is running out of bonds to buy
Tokyo
CURRENCY traders are writing off Haruhiko Kuroda's ability to weaken the yen the way he did in 2014, when he expanded his record monetary stimulus programme.
While the Bank of Japan governor won't step up bond purchases at Friday's gathering, he'll have to act later in the year to get to his inflation target, according to economists surveyed in the past week by Bloomberg. A stronger currency may stymie his efforts.
The yen already climbed more than one per cent against the dollar this year, outstripping all but one of its major peers as investors sought a haven from financial-market turmoil. It's the only major curren…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
China’s Noah to hire 50 to 100 wealth managers in Hong Kong, Singapore
Australian inflation boosts case for higher-for-longer rates
Hong Kong crypto ETF launches will test ambition to be digital-asset hub
Visa results beat expectations on strong consumer spending trends
Goldman Sachs shares rise to notch first record high since 2021
Abu Dhabi returns to debt market with new US dollar bond