BOJ Holds Rate, Yen Slides

TokyoTokyo sold dollars for yen hours before the Bank of Japan held rates at 1%.

The bank’s 8-1 vote left underlying inflation above its 2% target unaddressed, since a rate rise would raise debt-servicing costs on obligations exceeding 250% of GDP.

A US “rate check” — the New York Fed phoning dealers — signals Washington is watching; Japan’s next hike is priced for October.

Sources: CNBC, Investing.com, CoinDesk