Bank of Japan hints at near-term interest rate hike, pushing yields higher [Globe and Mail, The (Toronto, Canada)]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: Globe and Mail, The
hikes push up prices, the Asahi newspaper reported on Friday, his strongest hint yet that another rate hike was possible in coming months. The rare mention of an explicit timing drove two-year Japanese bond yields to their highest in more than a decade, helping the yen pull further away from the 34-year-low hit last week and providing some respite for policy-makers worried about the economic effects of the currency's weakness. In an interview with Asahi, Ueda said the central bank could “respond with monetary policy” if currency moves significantly drive inflation and wages, suggesting sharp yen falls could affect the timing of the next rate hike. “We ended our massive stimulus program because we saw prospects for trend inflation to approach 2 per cent come into sight. If we become more confident about such prospects, that will be one reason to move interest rates,” Ueda was quoted as saying. “Sustainable and stable achievement of our 2 per cent inflation target is coming into
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News
- Analysis-Japan faces a tough tug-of-war with yen bears [Yahoo! Finance]Yahoo! Finance
- Japan faces a tough tug-of-war with yen bears [Reuters]Reuters
- JGB yields rise as liquidity-enhancing auction suggests weak demand [Yahoo! Finance]Yahoo! Finance
- Weak yen boosts tourist wallets in Japan [Yahoo! Finance]Yahoo! Finance
- After Overnight Collapse To 34-Year-Lows, Yen Surges In Apparent 'Intervention' [zero hedge]zero hedge
SMFG
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website