Just hours before the Federal Reserve is expected to nod to a first U.S. rate cut in September, the BOJ hiked its official policy rate to 0.25% - sending the...
By any standards of an already busy year, markets are digesting an awful lot of information in a very short space of time - with a Bank of Japan interest rate rise and Microsoft earnings disappointment the latest servings on the final day of July.
"If the economy and prices move in line with our projection, we will continue to raise interest rates," Ueda told reporters. Interest rate markets also screened out a pop higher in crude oil prices from near two-month lows as Middle East tensions went up several notches and fears of a regional escalation of the conflict there increased.Hamas leader Ismail Haniyeh was assassinated in the early hours of the morning in Iran, less than 24 hours after Israel claimed to have killed a senior Hezbollah commander in Beirut.
And yet China stocks jumped more than 2% in their biggest one-day gain in more than five months - led by consumer and tech shares as investors welcomed a Politburo meeting that stressed the need to boost consumption.Microsoft's shares were down almost 3% ahead of Wednesday's open after its post-bell earnings report late yesterday underwhelmed investors increasingly anxious about the big spend in artificial intelligence and cloud computing revenues.
On the flipside, the Biden administration plans to unveil a new rule that will expand U.S. powers to stop exports of semiconductor manufacturing equipment from some foreign countries to Chinese chipmakers, two sources familiar with the rule told Reuters. Olympics 2024 LIVE: Alex Yee goes for triathlon gold and Andrea Spendolini-Sirieix wins diving bronze
BOJ Mike Dolan Global Markets Crude Oil Prices Kazuo Ueda
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