Yen weakness brings relief for Bank of Japan
Policy on hold, but central bank sees brighter outlook for 2017; yen close to lowest level this year, following Trump shock
The Bank of Japan (BoJ) has kept its policy on hold, but now sees a brighter outlook for 2017, in the latest sign that strength in the US might be assisting the recovery of other countries.
The yen has spent much of 2016 strengthening against the US dollar, complicating the BoJ's job of pushing inflation up. Headline CPI dipped as low as –0.5% in August. However, since Donald Trump's election victory in the US and the recent Federal Reserve rate hike, the yen has weakened sharply against the
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