The Japanese yen is under increasing pressure from domestic economic challenges and a robust U.S. dollar, which have led to heightened import costs and inflation worries.
Japan's wholesale inflation saw its steepest annual increase in over a year, exceeding expectations with a 3.4% rise in the corporate goods price index, stressing the economy.
BoJ Governor Kazuo Ueda emphasized that any potential rate hikes will depend on domestic inflation and wage growth rather than the effects of import-led price increases.
The Bank of Japan navigates a cautious policy approach amidst rising inflation, leading markets to anticipate fluctuations in bond yields as future adjustments loom.
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