Bank of Japan – Lawyers Write the Bets. Bankers Sell the Bets.

December 19, 2024December 25, 2024

Narrative. Perception. Sentiment. And the dollar continues to strengthen against the yen.

Narrative. Perception. Sentiment. That is what I saw tonight in play after the Bank of Japan released its statement on monetary policy. The USD/JPY was trading today around 153.786 at 1:00 pm EST. At 2:00 pm EST, when the Federal Open Market Committee released its statement, the yen had fallen, reflected in a USD/JPY of … Continue reading Narrative. Perception. Sentiment. And the dollar continues to strengthen against the yen.

December 19, 2024December 25, 2024

And the Bank of Japan has spoken …

The Bank of Japan decided to keep its target for the uncollateralized overnight call rate at 0.25% and its deposit facility rate also at 0.25%. The uncollateralized call rate is similar to the Federal Reserve’s federal funds rate while the deposit facility rate resembles the Fed’s interest on reserve balances rate. Japan’s consumer price index … Continue reading And the Bank of Japan has spoken …

December 19, 2024

The markets are waiting on Japan

The Bank of Japan is set to release its monetary policy statement sometime tonight. The Federal Open Market Committee’s decision to cut the range for the interbank overnight lending fee (fed funds rate) and the interest rate it pays on reserves left on deposit with the Fed by 25 basis points. The cut was expected … Continue reading The markets are waiting on Japan