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BoJ’s Steady Rates Trigger Yen Decline Amid Global Trade Uncertainty
BoJ’s Steady Rates Trigger Yen Decline Amid Global Trade Uncertainty
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The Bank of Japan held its benchmark interest rate at 0.5%, defying expectations of a policy shift despite escalating US trade tensions. The yen fell 0.3% to 143.48 against the dollar, ending a four-month rally as traders unwound bets on monetary tightening.
Central bank officials delayed their inflation timeline and warned of downside price risks, citing "extremely uncertain" global trade conditions. The decision comes as Trump’s new tariffs disrupt markets, with no clear timeline for stabilization.
Bloomberg’s pre-meeting survey showed unanimous consensus among economists for the status quo. Governor Ueda’s press conference offered no forward guidance, compounding market unease as factory sentiment indicators deteriorate.
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