ForexLive Asia-Pacific FX news wrap: Ueda says BoJ may hike rate at July meeting
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Bank of Japan Governor Ueda stated that there is a chance the BoJ could raise interest rates at the July meeting, depending on economic data available at the time. Ueda also mentioned that higher import costs from the weak yen may negatively impact household spending, but increasing wages will help underpin consumption and he expected the economy to remain on track for a moderate recovery. The USD/JPY exchange rate did not move much in response to Ueda's comments. Other news includes the PBOC setting the USD/CNY mid-point at 7.1148, Singapore's May non-oil domestic exports down 0.1% y/y, and New Zealand's Q2 consumer confidence falling to 82.2 from 93.2 in Q1. US retail sales data for May and speeches from several Federal Reserve officials are expected later in the day.
#BankOfJapan #InterestRates #Usd/jpy #ImportCosts #HouseholdSpending #Wages #Consumption #EconomicRecovery #Pboc #Usd/cny #SingaporeNonoilDomesticExports #NewZealandConsumerConfidence #UsRetailSales #FederalReserve
https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-ueda-says-boj-may-hike-rate-at-july-meeting-20240618/
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