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The Bank of Japan tweaked its yield curve control policy, keeping the 10-year cap at 0.5% while widening the trading band to plus or minus 1.0%. Tokyo inflation unexpectedly rose to 3.2% in July, which ING says forced the change.
Higher inflation pressure and a more flexible yield band point to tighter Japanese policy over time, supporting the yen and lifting global bond yields. That shift affects dollar-based commodity financing costs.
think.ing.comMin Joo Kang, Chris TurnerJul 28, 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.
