Bank of Japan Delivers Hawkish Hold But Yen Remains on Brink
BOJ Governor Ueda treads carefully as the yen hovers near a level that’s prompted past intervention.
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I’m Malcolm Scott , international economics editor visiting Tokyo this week. Today, Chris Anstey and I look at the Bank of Japan’s policy direction. Send us feedback and tips to ecodaily@bloomberg.net . And if you aren’t yet signed up to receive this newsletter, you can do so here .
We all need a little help sometimes.
Leading into today’s Bank of Japan meeting, Governor Kazuo Ueda faced a challenge: deliver a hold decision that’s hawkish enough to prevent the beleaguered yen from toppling off the 160 cliff. He just about pulled it off thanks mainly to a pair of hawkish board members and the usually consensus-leaning Junko Nakagawa, who all voted to increase interest rates at the meeting.