GBP/JPY breaks its two days of losses, trading around 197.90 during the European session on Monday.
GBP/JPY appreciates due to uncertainties regarding the future BoJ interest rates outlook. LDP’s Shigeru Ishiba has been re-elected as Japan 's Prime Minister, securing 221 of the 465 votes in the lower house of parliament. BoE’s Bailey emphasized that monetary policy will remain tight until the risks of persistent inflationary pressures are reduced. The Japan ese Yen faces challenges due to uncertainty surrounding the Bank of Japan ’s interest rate hikes in the future.
For the biggest central banks like the US Federal Reserve , the European Central Bank or the Bank of England , the mandate is to keep inflation close to 2%. What does a central bank do when inflation undershoots or overshoots its projected target? A central bank has one important tool at its disposal to get inflation higher or lower, and that is by tweaking its benchmark policy rate, commonly known as interest rate.
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