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Japan's Rising Sun
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Koushik Korampalli
September 29, 2024
Written by
Koushik Korampalli
Est read: 0 minutes
The BoJ held rates last Friday
They claimed that the economy was recovering moderately
But there were high uncertainties in the outlook for activity and prices
The rates currently sit at 0.25%
However in a statement they claimed that the Japanese economy was likely to keep growing at a pace above its potential growth rate as “spending gradually intensifies”
The economy is moving in line with the banks forecasts
Governor Ueda stated that optimism was hindered by the uncertainty in the US
The yen fell 0.7% following the announcement
The yen has shot up from its all-time low
But it has flattened out since mid July
Forecasts predict that rates will rise before the end of this year
Shigeru Ishiba won the race to become the new Prime Minister
He plans to boost wages and exempt items from sales tax
This is all to help the current cost of living crisis in Japan
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