Japanese stocks jumped on Tuesday as traders ramped up their bets ahead of crucial upcoming events, including Japan’s central bank meeting.
The Nikkei 225 gained 0.15%, or 57.32 points, to close at 38,525.95.
On Wednesday, the BOJ will outline plans to taper bond purchases and consider the timing of its next interest rate hike, marking a shift from a decade of aggressive stimulus.
This decision comes as the US Federal Reserve weighs a potential rate cut in September, which could impact the yen’s recent recovery.
The BOJ will also deliberate on raising short-term rates from 0-0.1%, a decision that could be contentious as policymakers remain divided on how long to analyze data before acting.
The yen, which recently rebounded from a 38-year low of 161.96 per dollar, is currently trading at 153.95 per dollar.
Japan’s seasonally adjusted unemployment rate decreased to 2.5% in June from 2.6% in May, indicating labor market stability amid economic uncertainties.
Source : MT Newswires
