Many Bank of Japan policymakers saw stronger wage growth as key to sustaining the bank’s 2% inflation goal. One board member said sharp yen falls could hurt the economy. The BOJ stuck to its ultra-low interest rate policy and vowed to defend its cap on the 10-year bond yield. Many Bank of Japan (BOJ) policymakers … Read more
Japan’s household spending fell faster than expected in April. The yen’s sharp decline and surging commodity prices pushed up retail costs. Real wages shrank at the fastest pace in four months in April as prices posted their biggest jump in more than seven years, weighing on household purchasing power. Japan’s family spending fell surprisingly quick … Read more
The Japanese yen fell to a sparkling-decade low on Wednesday after the Bank of Japan stepped into the market once more to guard its ultra-low hobby-rate coverage, drawing a pointy evaluation with the US in which Treasury yields hit new highs. The BOJ again provided to buy unlimited amounts of Japanese government bonds to test … Read more
ANKARA: Gold has a central place in Turkish customs from birth to weddings. As the country is battling economic woes and low foreign currency reserves, the authorities want to draw the yellow metal stored by citizens into the banking system. As Turkey’s annual inflation surged to a two-decade high of 48.7 per cent in January, … Read more
BEIJING — The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 179 pips to 6.3498 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each … Read more
NEW YORK — The U.S. dollar recorded a deep decrease in late trading on Friday as demand for safe haven shot up. The dollar index, which measures the greenback against six major peers, decreased 0.75 percent at 96.0468 in late trading. The discovery of a new COVID-19 variant in South Africa sent jitters across global … Read more
As per the announcement of President Nayib Bukele, 150 more bitcoins (BTC) have been purchased by El Salvador, taking the Central American country’s holdings of the unstable crypto to 700 coins. Bukele tweeted that “We just bought dip,” mentioning the latest fall in BTC values. Prior to this month, El Salvador became the first state … Read more
