G-7 holds off criticising Japan over yen's drop
This increases possibility BOJ will be emboldened to loosen monetary policy further, pushing currency even lower
Tokyo
JAPAN was let off lightly by its Group of 7 (G-7) partners meeting in Germany last Friday over the sharp and continuing drop in the value of the yen against other key currencies, increasing the possibility that the Bank of Japan (BOJ) will be emboldened to loosen monetary policy further, pushing the yen even lower.
A key development could be the release this Wednesday by the Organisation for Economic Cooperation and Development (OECD) of its latest Economic Outlook on Japan, and whether the Paris-based organisation endorses the need for stronger monetary action by the BOJ.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Indian banks to step up IT spends as regulatory scrutiny rises
Swedish central bank lowers key rate, sees two more cuts this year
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
Australia lending rules make banks go ‘too hard’ on due diligence: Westpac
Australia banks shower investors with A$5 billion in buybacks
Bank of Japan’s Ueda signals chance of policy action if yen moves affect inflation