Welcome to Tuesday!
BOJ doesn’t change its policy
On Thursday, the Bank of Japan kept monetary policy intact and also offered a more positive view of the national economy than the previous month, indicating its confidence that a pick-up in overseas demand will assist to sustain an export-driven revival.
However, Japan’s major financial institution moderately reduced its inflation prediction for this fiscal year in a quarterly review of its projections, telling that it’s about to maintain its massive monetary stimulus for the time being to meet its ambitious 2% objective.
As the BOJ revealed, Japan's economy has been turning towards a modest expansion, compared with last month's assessment that the Japanese economy keeps reviving modestly as a trend.
In a widely expected move, Japan’s major bank maintained the 0.1% interest charged on a portion of excess reserves, which commercial banks park at the major bank.
At the two-day policy gathering, which ended on Thursday, the major bank also kept its yield objective for 10-year government bonds around 0%.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…