Yen Gains After Bank of Japan Governor Reaffirms Intention to Keep Raising Rates

  • August 23, 2024

Bank of Japan Gov. Kazuo Ueda​ reaffirmed that the bank plans to continue raising rates, after recent communications confused market players about its future policy path. Earlier this month, speculation about tighter BOJ rate policy and concern about the U.S. economic outlook hit Tokyo stocks and sharply boosted the yen. Market players took Ueda's message more calmly on Friday, as the governor promised to pay close attention to market developments.