Yen Weakens as Ueda Indicates BOJ Isn’t in Hurry to Hike Rates

Benchmark Topix stocks index climbs 1%, Nikkei rises 1.5%
Futures for 10-year sovereign bonds rise as governor speaks

WATCH: BofA’s Izumi Devalier says the BOJ is likely to keep rates on hold in October too.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Masaki Kondo

September 20, 2024 at 3:02 AM UTC

Updated on

September 20, 2024 at 10:56 AM UTC

The yen fell after Governor Kazuo Ueda indicated the Bank of Japan isn’t in a hurry to increase interest rates again after hikes in March and July.

The currency slid as much as 1.1% to 144.20 per dollar around 11:40 a.m. in London. The move gathered pace after Ueda wrapped up a briefing following the decision earlier Friday to leave borrowing costs unchanged.