BOJ doubled the cap on 10-year bond yields in a surprise policy tweak seen as a sign to normalisation and a potential prelude to hikes next year. Could this move lead to a return of capital and drive up borrowing costs worldwide?
Today, the Reserve Bank of Australia raised interest rates by 50 basis points, while the Bank of Japan is staying dovish. Uncertainty regarding monetary policies and inflation across Asia may have been the cause for mixed trading results on major Asian Indices today.
The Hang Seng Index moved upwards today, even as trading on Tokyo’s Nikkei 225 closed with a slight loss. Some analysts posit that a lifting of COVID-19 restrictions in Shanghai could be behind increased optimism on major Asian markets.
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