Five Things You Need to Know to Start Your Day: Europe
Get up to speed with what the markets are monitoring
Good morning. The Bank of Japan kept its rates unchanged. Traders now ponder how fast the Federal Reserve goes in this easing cycle. And Mercedes slashes outlook. Here’s what people are talking about.
The Bank of Japan kept its policy settings steady Friday. The yen fluctuated after the decision before strengthening to a high for the day against the dollar. The BOJ signaled it sees no need to hurry with interest-rate hikes as it monitors financial markets after its July increase and hawkish views spooked investors. Today’s data showed the nation’s key inflation gauge accelerated in August for a fourth consecutive month. Now traders will turn to Governor Kazuo Ueda’s press briefing later for clues on the policy path given the BOJ’s outlier status as the only major central bank on an upward course. Stocks in Asia extended a rally in global equities amid rising hopes for a soft landing in the US economy.