A tri-party meeting between The Bank of Japan, the Financial Services Agency, and the Ministry of Finance is scheduled on Wednesday. As Japan’s yen hits its lowest against the dollar in 34 years.
The Bank of Japan reached high rates only last week, however, the recent drop led to a current level of ¥151.97 against the dollar. BOJ will continue to monitor currency changes and their impact on the economy.
Once the meeting takes place, Vice Finance Minister for International Affairs, Masato Kanda, will provide updates to the press.
According to The Bank of Japan, it’s unclear when more rate hikes will happen. That said. some speculation points to higher rates later this year.
The BOJ has not provided clear signals on when additional rate hikes will come. However, there is a strong degree of speculation that it will raise rates this year, potentially in July or October.
