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The yen fell amid volatile trade on Friday after the Bank of Japan (BOJ) maintained its accommodative monetary policy stance at the conclusion of its two-day policy meeting, while Asian shares rose elsewhere. The BOJ kept its short-term rates steady on Friday, as expected, while removing a reference to the amount of government bonds it has roughly committed to buying each month. The Japanese yen fell shortly after the announcement to the weaker side of 156 per dollar, marking a fresh 34-year trough. ....
David Donabedian, CIO of CIBC Private Wealth U.S., warned the spike in core inflation seen in the latest GDP report is a major setback for the economy and the Fed. ....
Following higher than expected inflation and labor market readings in January and February on the tail wind of a booming U.S. economy, Federal Reserve officials are suggesting they may keep interest rates higher for longer. “It is too soon to say whether the recent readings represent more than just a bump,” Fed Chair Jerome Powell… ....