Market updates on July 16
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Kuroda's optimism on Japan’s economy pushes yen to 4-month maximum
On Monday, BOJ Governor Haruhiko Kuroda offered an upbeat view on the Japanese economy as well as inflation, thus pushing the Japanese yen to a fourth-month maximum versus the US currency on simmering speculation the country’s major financial institution could withdraw stimulus earlier than anticipated.
Financial markets generally neglected Kuroda's reminder that the Bank of Japan is going to maintain its huge stimulus in a sign of how nervous traders have become on when it might join other major banks in dialing back crisis-mode stimulus.
Additionally, the country’s major bank also offered its most optimistic view on Japan’s regional areas in almost a decade in a quarterly report, thus underscoring its conviction a broadening revival will help to step up inflation to its ambitious 2% objective.
In the quarterly report, the Bank of Japan managed to raise its assessment for up to 3 of the country’s 9 regional economies. It also maintained rather a rosy view for the remaining six ones.
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