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The Bank of Japan kept its key rate and yield curve control policy unchanged, and the yen plunged to around 131 per dollar after the decision. The 10-year JGB yield reached 0.38% and the bank trimmed its FY22 GDP outlook.
The policy hold and sharp yen decline shift the currency cost of dollar-priced commodity imports for Japan and add volatility to currency-linked trade flows; direct feed price impact is limited.
think.ing.comMin Joo Kang, Chris TurnerJan 18, 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.
