The rise in Japanese government bond yields prevented the yen from falling
koykusanagi
发表于 2023-10-3 23:51:32
188
0
0
The rise in JGB yields and the fall in the yen have put the Bank of Japan in a dilemma of trying to control interest rates and stimulate the economy without letting the yen fall too far.
The problem is partly caused by the U.S., as higher U.S. interest rates relative to those in Japan push the dollar up against the yen.
The yen fell to 149.82 yen to the dollar in intraday Tokyo trading Monday, its lowest level since October 2022. The Bank of Japan's quarterly business climate survey released on Monday showed an improvement in big companies' views of the economy, and the 10-year JGB yield rose to 0.775 per cent, the highest level since September 2013.
The Bank of Japan is worried about rising interest rates too fast. The Bank of Japan has capped the yield on its benchmark government bonds at 1%, and analysts say it does not want rates to rise too quickly.
As a result, the Bank of Japan said Monday it would buy more government bonds with maturities of five to 10 years on Wednesday. The Bank of Japan took similar emergency action on Friday. Those moves tend to push down bond yields and, all else being equal, the yen.
While currency policy isn't the BOJ's direct responsibility, boj Governor Kazuo Ueda has said the central bank is watching the yen closely because of its impact on Japan's economy.
Makoto Noji, strategist at SMBC Nikko Securities, estimates that Japanese interest rates would have to rise by about 0.8 percentage points to support a 10-yen rise against the dollar. But Japan's economy isn't strong enough to withstand those rates, so the yen is likely to stay weak, he said.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Sony Interactive Entertainment raises PS5 game console price to about 700 yuan in Japan, facing shortage in China
- Typhoon is coming! Toyota temporarily closes Japanese factory
- Japan collaborates with Intel to establish a chip research center
- NVIDIA invests in Japanese AI research and development startup Sakana AI
- Japanese iron making: if the acquisition is successful, the American steel board will be dominated by Americans
- Nippon Steel claims that the Committee on Foreign Investment in the United States has not provided the latest information on US steel trading
- Bank of Japan announces no interest rate hike! The policy statement implies that further tightening of policies will be cautiously implemented
- Fearless of the resurgence of Black Monday? More than half of economists expect Bank of Japan to raise interest rates again in December
- Japanese Steel and US Steel executives reportedly meet with US officials to discuss acquisition matters
- 40% of employees are over 50 years old. Japan Airlines will increase the benefits for retired and rehired personnel over the age of 60
-
【世界市場】1、納指は0.04%、ダウは0.70%、スタンダードは0.19%下落した。2、英偉達は2%超上昇し、美光科技の株価は10%超上昇した。3、ナスダック中国の金龍指数は2.80%、蔚来は5%近く下落した。4、国際原油価格は ...
- 虚空一粒沙2017
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
世界的な整形外科大手のシュレックはこのほど、ニューラルテクノロジー会社のNico Corporationの買収を完了したと発表した。紹介によると、Nicoは私営会社で、腫瘍と脳内出血(ICH)手術のための系統的な低侵襲手術 ...
- 就放荡不羁就h
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
AP通信9月27日、インテルは今月中旬に発表された重大な業務調整に加え、近日中にクアルコムに買収合併される可能性があるとの情報を伝えていることを明らかにした。 しかし、ウォール街のほとんどのアナリストは、 ...
- 什么大师特
- 前天 16:13
- 支持
- 反对
- 回复
- 收藏
-
9月26日、Meta Platformsは巨額の資金を投じてスターを招待していることを明らかにした。Metaは水曜日、俳優のオスカー・フィーナ(Awkwafina)、ジョン・セナ(John Cena)、ジュディ・デンチ(Judi Dench)、クリ ...
- hecgdge4
- 3 天前
- 支持
- 反对
- 回复
- 收藏