Archives of “April 14, 2022” dayrss
An on hold decision was the consensus. Rate hike instead.
Its benchmark rate is now at its highest since August 2019. Today’s hike comes to combat surgiung inflation which is circa 4% vs. the BoK target of 2%.
There will be a BoK press conference to follow at 0220 GMT.
Reuters Corporate Survey shows:
- More than three-quarters of Japanese firms say the yen has declined to point of being detrimental to their business
- almost half of companies expecting a hit to earnings
- companies are more worried about how it inflates fuel and raw material imports, which are already soaring due to the war in Ukraine. A decades-long shift to producing more goods overseas has also muted a weak yen’s benefits.
- also showed almost 60% think the government should move quickly to restart nuclear reactors, evidence that higher energy costs – driven in part by the currency’s slide – may be changing opinion on nuclear policy
here is the link for more. None of this is surprising, we’ve been hearing similar for weeks/months and we’ve been getting officials bemoaning the currency drop for weeks/months also.
The major US indices are closing the session higher and in the process has snapped a 3 day losing streak for the S&P and Nasdaq. The Dow snapped a 2 day decline.
The final numbers are showing:
- Dow up 344.25 points or +1.01% at 24564.60
- S&P up 49.14 points or +1.12% at 4446.60
- Nasdaq up 272.03 points or +2.03% at 13643.60
- Russell 2000 +38.16 points or 1.92% at 2025.10