{"id":323311,"date":"2024-06-14T12:17:34","date_gmt":"2024-06-14T06:47:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=323311"},"modified":"2024-06-14T12:17:34","modified_gmt":"2024-06-14T06:47:34","slug":"important-to-reduce-jgb-purchases-in-a-foreseeable-manner-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/important-to-reduce-jgb-purchases-in-a-foreseeable-manner-crypto-news\/","title":{"rendered":"Important to reduce JGB purchases in a foreseeable manner – Crypto News"},"content":{"rendered":"

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Addressing the post-policy meeting press conference on Friday, Bank of Japan (BoJ)\u00a0Governor Kazuo\u00a0Ueda<\/strong><\/a>\u00a0said that the Bank \u201cdecided to reduce JGB purchases to ensure long-term yields are formed more freely in markets.\u201d<\/p>\n

The BoJ kept the interest rate steady at 0% for the second meeting in a row in June.<\/p>\n

Additional quotes<\/h2>\n
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Important to reduce JGB purchases in a foreseeable manner, while ensuring flexibility to be mindful of stability in bond market.<\/p>\n

Japan’s economic, price uncertainties remain high.<\/p>\n

Must pay due attention to financial, FX markets, impact on Japan’s economy, prices.<\/p>\n

Reduction of JGB purchases will be considerable volume.<\/p>\n

Specific amount, framework of JGB purchase reduction will be decided while listening to market participants’ input.<\/p>\n

Will start reduction of JGB purchase immediately after deciding at next policy meeting.<\/p>\n<\/blockquote>\n

developing story ….<\/p>\n

Market reaction<\/h2>\n

USD\/JPY<\/strong><\/a>\u00a0holds gains near six-week highs following these comments. The pair was last seen 0.70% higher on the day at 158.18.<\/p>\n

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Japanese Yen FAQs<\/h2>\n
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The Japanese Yen (JPY) is one of the world\u2019s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan\u2019s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.<\/p>\n<\/section>\n

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One of the Bank of Japan\u2019s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers. This process has exacerbated more recently due to an increasing policy divergence between the Bank of Japan and other main central banks, which have opted to increase interest rates sharply to fight decades-high levels of inflation.<\/p>\n<\/section>\n

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The BoJ\u2019s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supports a widening of the differential between the 10-year US and Japanese bonds, which favors the US Dollar against the Japanese Yen.<\/p>\n<\/section>\n

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The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen\u2019s value against other currencies seen as more risky to invest in.<\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Addressing the post-policy meeting press conference on Friday, Bank of Japan (BoJ)\u00a0Governor Kazuo\u00a0Ueda\u00a0said that the Bank \u201cdecided to reduce JGB purchases to ensure long-term yields are formed more freely in markets.\u201d The BoJ kept the interest rate steady at 0% for the second meeting in a row in June. Additional quotes Important to reduce JGB […]<\/p>\n","protected":false},"author":2,"featured_media":160735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,386,251,246,257,255,684,250,252,247,253,249,275,256,254],"class_list":["post-323311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-centralbanks","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-interestrate","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=323311"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323311\/revisions"}],"predecessor-version":[{"id":323320,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/323311\/revisions\/323320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/160735"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=323311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=323311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=323311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}