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Zhitong
2024.08.23 03:21
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Bank of Japan Governor Haruhiko Kuroda suddenly "hawks" and the Japanese Yen surged in response

Bank of Japan Governor Haruhiko Kuroda said that if the economy and prices meet expectations, the central bank will continue to raise interest rates. The yen rose against the US dollar, expanding by 0.7% at one point. Kuroda also stated on Friday during parliamentary questioning that the recent market turmoil was due to concerns about the US economy, but he remains cautious about the unstable financial markets. The yen rose to 145.30 against the US dollar. As of the time of writing, Japanese government bond futures fell by 0.23 to 144.65. Data released on Friday showed that the core CPI, excluding fresh food, rose by 2.7% year-on-year, higher than June's 2.6%. This result is in line with market expectations. After the suspension of public utility subsidies, electricity prices rose by 22%, driving up the data. The stickiness of the core inflation indicator suggests that the Bank of Japan may continue to consider further interest rate hikes

Zhitong Finance APP learned that Haruhiko Kuroda, Governor of the Bank of Japan, stated that if the economy and prices meet expectations, the central bank will further raise interest rates, causing the yen to dollar exchange rate to expand by 0.7% at one point.

Kuroda also mentioned during a parliamentary questioning on Friday that the recent market turmoil was due to concerns about the U.S. economy, but he remains cautious about the unstable financial markets.

The yen rose to 145.30 against the dollar at one point. As of the time of publication, Japanese government bond futures fell by 0.23 to 144.65.

Data released on Friday showed that the core CPI, excluding fresh food, rose by 2.7% year-on-year, higher than June's 2.6%. This result is in line with market expectations. After the suspension of public utility subsidies, electricity prices accelerated by 22%, driving up the data.

The stickiness of the core inflation indicator suggests that the Bank of Japan may continue to consider further interest rate hikes

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