Day: October 7, 2014

October 7
2014

Japanese Yen Higher After BoJ Meeting

The Japanese yen edged higher after the Bank of Japan concluded its two-day policy meeting today. As was expected, the central bank did not add stimulating measures to its already extremely accommodative monetary policy. The BoJ left its interest rates near zero and the pace of annual expansion of the monetary base at ¥60–70 trillion. The central bank said in the statement about Japan’s economy: Japan’s economy has continued to recover moderately […]

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October 7
2014

Aussie Rallies After RBA, Gains Limited

The Australian dollar rallied after the Reserve Bank of Australia refrained from changing its monetary policy during today’s meeting. The gains were not big as the central bank continued to complain about the strength of the currency. The RBA left its main interest rate at 2.5 percent today. The bank maintained the outlook for a period of stability for monetary policy, saying in the statement: In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth […]

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October 7
2014

Manufacturing Data Boosts Pound Against Euro

UK pound is heading higher against the euro today, even though it is down against its low-beta counterparts, the dollar and then yen. Economic divergence is one of the reasons that the pound is doing so well against the euro today. The latest data to come out of the United Kingdom is manufacturing production. This measure rose by 0.1 per cent from July to August, according to the Office for National […]

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