TOKYO — The Bank of Japan (BoJ) left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fueled turmoil across world markets.
TOKYO — The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fueled turmoil across world markets.Two days after the US Federal Reserve slashed rates for the first time since the start of the pandemic, the BoJ's stasis came as data showed inflation in the world's fourth-largest economy picked up as expected in August.Japanese central bank officials said borrowing costs would be left at 0.
That move, which surprised investors, came on the same day the Fed indicated it was ready to start cutting and was followed by a big miss on US jobs creation.This sent markets into a tailspin on US recession worries and as traders unwound huge 'carry trades' in which they used the yen to buy higher-yielding assets such as stocks.
Leaves Key Interest Rates Unchanged
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