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日本央行立场谨慎,日元徘徊在5个月低点附近

The stance of the Bank of Japan is cautious, with the yen hovering around a five-month low.

Global market broadcast. ·  Dec 27, 2024 15:21

On Friday, the yen hovered near a five-month low, as the Federal Reserve's hawkish messages starkly contrasted with the cautious attitude of the Bank of Japan towards further tightening of policies.

As of 6:00 AM GMT (2:00 PM local time), the yen was quoted at 157.765 against the US dollar, slightly up 0.1% from Thursday, but still close to the day's low of 158.09, marking the lowest level since July 17.

Japan's Finance Minister once again warned that the government is "shocked by the development of Forex... and will take appropriate action against excessive volatility." The summary of opinions from the Bank of Japan's December policy meeting, released on Friday, indicated that some officials are increasingly confident about recent rate hikes, while others remain cautious in light of wage trends and the uncertainty surrounding the incoming Trump administration's policies.

Bank of Japan Governor Kazuo Ueda stated last week that after maintaining stable interest rates, it will take "a considerable amount of time" to comprehensively assess wage levels and the outlook for the overseas economy, especially the USA. In contrast, Federal Reserve Chair Jerome Powell earlier this month indicated that after the anticipated 25 basis point rate cut, Fed officials "will take a cautious approach to further rate cuts."

Economists believe that the deregulation, tax cuts, increased tariffs, and tightened immigration policies proposed by Trump are beneficial for economic growth in the USA and for inflation.

The US dollar against the yen is expected to rise 5.5% this month and 11.8% for the year. Analysts Masafumi Yamamoto and Masayoshi Mihara of Mizuho Securities noted, "The upward trend of the yen against the dollar is strong, but there is a feeling that the strong dollar against the weak yen trend we see now may be a bit excessive, presenting a risk of correction... Japanese officials are also likely to issue stronger intervention warnings."

The translation is provided by third-party software.


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