Asian Markets Mixed Amid Pandemic Woes
CANBERA (dpa-AFX) - Asian stock markets are mixed on Thursday, following thin trading in the previous three sessions due to holiday s in couple of major markets, as concerns remain about the continuing surge in daily coronavirus cases in most markets in the region and the related restrictions or lockdown in several areas restricting economic activity. Asian markets closed mixed in thin trading on Wednesday.
Meanwhile, U.S. Treasury Secretary Janet Yellen eased market concerns of a rate hike after she clarified that she was neither predicting nor recommending a rate increase. Yellen had suggested yesterday that interest rates may have to rise modestly to prevent the economy from overheating amid the recent spike in government spending.
BoJ Minutes: Japan Economy Not Out Of The Woods Yet
TOKYO (dpa-AFX) - Members of the Bank of Japan s monetary policy board said that the country s economy is showing signs of inconsistent improvement but continues to be threatened by COVID-19, minutes from the bank s meeting on March 18 and 19 revealed on Thursday.
The pandemic and its different variants continue to shroud the global economic recovery in uncertainty, the minutes said. The members said they will monitor the situation and will take additional easing measures if they re needed.
They also said they would continue the current level of easing until the price stability target of 2 percent is achieved.
Japanese Market Sharply Higher
TOKYO (dpa-AFX) - The Japanese stock market is sharply higher on Thursday, coming back after three days of holiday s, with the Nikkei 225 gaining more than 600 points to be above the 29,400 level, on positive comments on the state of the economy by members of the Bank of Japan s monetary policy board. The cues overnight from Wall Street were mixed. However, worries about the continuing surge in coronavirus cases are limiting the markets upside.
Members of the Bank of Japan s monetary policy board said that the country s economy is showing signs of inconsistent improvement but continues to be threatened by COVID-19, minutes from the bank s meeting on March 18 and 19 revealed on Thursday. At the meeting, the bank widened the range at which it permits the yields of government bonds to fluctuate and scrapped the average exchange traded fund buying target and also maintained its benchmark lending rate at -0.1 percent.
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The Bank of England must keep a “laser focus” on inflation expectations when the economic crisis eases, its chief economist has warned.Although the central bank can afford for inflation to overshoot