Yen gains after Bank of Japan holds rates
The yen strengthened to 157.115 per dollar, erasing most of its monthly losses, putting it on track to end October broadly flat.
The dollar index slightly weakened on Friday to 101.77, while the yen edged higher after the Bank of Japan held interest rates steady as expected. The BOJ's decision saw the currency reach a high of 157.115 per dollar, erasing most of its losses for the month and positioning it to end October roughly unchanged. Investors now await governor Kazuo Ueda's news conference for further insights into the policy decision and future interest rate trajectories.
The BOJ's decision follows a week of central bank meetings, with the European Central Bank, US Federal Reserve, and Reserve Bank of New Zealand maintaining rates unchanged amid persistent inflation and tightening financial conditions. Experts believe this is a temporary pause in the global tightening cycle, with inflation remaining elevated in 2027, potentially leading to more rate hikes.
The euro slid 0.15% to US$1.1197, while the British pound strengthened by 0.2% to US$1.34, and the Australian dollar increased by 0.2% to US$0.7042.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Bank of Japan says inflation hit 2% target after 13 years euronews.com
- Bank of Japan says inflation hit 2% target after 13 years freemalaysiatoday.com
- Bank of Japan holds rates steady even as inflation ticks up japantimes.co.jp
- Bank of Japan says inflation hit 2% target after 13 years thejakartapost.com
