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Asian markets rise and Bank of Japan keeps monetary policy steady

2019-07-30 06:39 am | Resource: News | No Views : 40

ارتفاع الأسواق الآسيوية و بنك اليابان يبقي السياسة النقدية ثابتة

Asia Pacific stocks rose Tuesday ahead of a meeting between the United States and Chinese trade delegations. Meanwhile, the Bank of Japan decided to keep interest rates on short-term policy unchanged at -0.1% as it continued quantitative and qualitative easing in order to reach the target of price stability at 2%. Sony Corp is set to release its Q1 earnings soon.

The Bank of Japan maintains a fixed monetary policy

The Bank of Japan (BoJ) decided at a monetary policy meeting on Tuesday to keep short-term interest rates unchanged at -0.1%. The bank also supported its earlier decision to buy Japanese government bonds so that the yield on 10-year bonds remains at almost 0 percent and increases the amount due to them at an annual rate of about 80 trillion yen. The Bank of Japan will also continue its quantitative and qualitative easing in order to reach the target of price stability at 2%.

He reiterated that he intended to maintain low interest rates at least until the spring of 2020, but would not hesitate to take additional mitigation measures if necessary if the downside to the risks of economic activity and prices, especially with respect to developments in external economies, "He said.

The bank expects the Japanese economy to continue to expand during fiscal year 2021, with exports and domestic demand continuing to rise. Inflation is expected to rise gradually by about 2%, but the momentum towards this goal "is not yet sufficiently stable." The Bank of Japan noted that risks to economic activity "tend to be downside", especially with regard to developments in foreign economies.

Asian stocks trading
  • In mainland China, the Shanghai Composite Index rose 0.40% from the baseline level at 7:51 am CET
  • While the Shenzhen Composite Index rose 0.59% at 7:53 am CET.
  • Hong Kong's Hang Seng Index rose 0.20% at 7:52 CET.
  • The Japanese Nikkei average rose 0.30% at 7:55 am.
  • The greenback was down 0.17% against the yen, approaching 108.6040 yen later.
  • South Korea's Kospi Composite Index rose 0.59% at 7:32 CET.
  • The Australian S & P / ASX 200 jumped 0.34% at 7:52 am CET.

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