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The Bank of Japan unanimously kept its -0.1% policy rate and its 1% upper bound on the 10-year yield reference, and Ueda said it is hard to show how policy can exit ultra-loose settings with high certainty. The yen tumbled after the decision, unwinding a recent rally.
Ueda said a positive wage-inflation cycle must still be confirmed.
Delayed BOJ tightening keeps the yen weak against the dollar, which supports Japanese purchasing power for imported feed inputs only modestly and has little direct effect on grain prices.
cnbc.comClement TanDec 19, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
