Asia Stocks Look Mixed Ahead of BOJ Rate Decision: Markets Wrap
The yen weakened after the Bank of Japan brought an end to the world’s last negative interest rate policy but in a way that kept financial conditions easy and data dependent.
The yen weakened after the Bank of Japan brought an end to the world’s last negative interest rate policy but in a way that kept financial conditions easy and data dependent.
Japanese banks will start earning billions of yen in interest on their deposits with the Bank of Japan after it scrapped negative rates.
Australia’s central bank signaled it’s done tightening monetary policy after leaving interest rates at a 12-year high, sparking a selloff in the currency and a rally in bonds.
“We haven’t yet discussed anything about future rate moves. We need to gather more information,” European Central Bank Vice President Luis de Guindos said in an interview with Greek newspaper Naftemporiki. “The evolution of wages is key and most of the wage bargaining agreements will have been concluded in the first months of this year. We will have more information in June.”
Oil held the bulk of a gain, with the impact of Ukrainian drone attacks on Russian refineries and OPEC+ supply cuts in focus.
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