Tokyo inflation, BOJ rate decision

[Pelican Press 0]

Tokyo inflation, BOJ rate decision

An editorial montage of the Japan flag and ********* yen cash bank notes.

Javier Ghersi | Moment | Getty Images

The ********* yen slid to over 156 against the U.S. dollar on Friday after the Bank of Japan left its benchmark interest rate unchanged.

The BOJ kept its benchmark policy rate at 0%-0.1% as expected. Japan’s central bank also said it will continue to conduct bond purchases in line with the March decision.

The yen touched fresh lows following the decision.

Tokyo’s headline inflation rate for April came in at 1.8%, slowing from the 2.6% in March. Core inflation in the capital — which strips out prices of fresh food — sharply fell to 1.6% from March’s 2.4%, missing expectations of 2.2% from economists polled by Reuters.

Tokyo inflation data is widely considered as a leading indicator of nationwide trends.

Japan’s Nikkei 225 climbed 0.81% to end at 37,934.76, while the Topix was up 0.86% and finished at 2,686.48.

Hong Kong’s Hang Seng index rose 2.51%, leading gains in Asia, while mainland China’s CSI 300 was 1.51% higher.

South Korea’s Kospi was up 1.05% and closed at 2,656.33, while the small cap Kosdaq saw a smaller gain of 0.42% to 856.82.

However, Australia’s S&P/ASX 200 was down 1.39% and closed at 7,575.9, dragged by industrial and health services stocks.

Overnight in the U.S., stocks tumbled after data showed a sharp slowdown in economic growth and pointed to persistent inflation.

U.S. ****** domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%.

Along with the downbeat growth rate, the report showed the personal consumption expenditures price index increased at a 3.4% pace, well above the previous quarter’s 1.8% advance.

The Dow Jones Industrial Average slid 0.98%, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46%, and the Nasdaq Composite lost 0.64%.

— CNBC’s Brian Evans contributed to this report.

This is the hidden content, please

• Sign In
• or
• Sign Up

SHENZHEN COMPONENT INDEX,ICE Brent Crude (Apr'23),WTI Crude (Mar'23),*********** Dollar/US Dollar FX Spot Rate,USD/JPY,DXY US Dollar Currency Index,Hang Seng Index,KOSPI Index,S&P/ASX 200,Nikkei 225 Index,Shanghai,Breaking News: Asia,Breaking News: Markets,Markets,World Markets,Asia Economy,Australia,Economic events,Prices,NVIDIA Corp,Dow Jones Industrial Average,NASDAQ Composite,S&P 500 Index,Arm Holdings PLC,Caterpillar Inc,International Business Machines Corp,business news
#Tokyo #inflation #BOJ #rate #decision

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/