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EUR/JPY continues to lose ground for the second consecutive day, trading around 176.90 during the Asian hours on Wednesday. The currency cross weakens as the Japanese Yen (JPY) gains ground, with investors positioning ahead of the Bank of Japan’s (BoJ) policy decision on Thursday. The BoJ is expected to keep interest rates unchanged, but policymakers are likely to discuss the conditions for resuming rate hikes as tariff-related risks subside, even as persistent inflation continues to cloud the economic outlook. The JPY also draws support after US Treasury Secretary Scott Bessent urged Japan’s government on Wednesday to allow the central bank greater flexibility to raise interest rates, intensifying his warning to Tokyo against maintaining a weak Yen through prolonged low borrowing costs. Meanwhile, US President Donald Trump met with newly appointed Prime Minister Sanae Takaichi on Tuesday, pledging to strengthen US-Japan relations and signing agreements on trade and critical minerals. Japanese Chief Cabinet Secretary Minoru Kihara said in a statement on Wednesday that he “expects the Bank of Japan (BoJ) to conduct monetary policy to appropriately achieve the inflation target.” Government will continue to closely coordinate with the BoJ, Kihara added. Eurozone median consumer inflation expectations declined to 2.7% in September 2025 from 2.8% in August. Expectations for inflation three years ahead held steady at 2.5%, while five-year expectations remained unchanged at 2.2%, matching the highs last seen in 2022. Meanwhile, expectations for the unemployment rate 12 months ahead were unchanged at 10.7%. Consumers continued to see the future unemployment rate as only slightly above the current perceived rate of 10.2%, indicating a broadly stable labor market outlook. Bank of Japan FAQs The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary…

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Filed under: News - @ October 29, 2025 5:21 am