In its quarterly review of the Japanese regional economies, the Bank of Japan (BoJ) raises the assessment for two of the country’s nine regions.
Additional takeaways
BoJ cuts assessment for 1 of Japan’s 9 regions in quarterly report.
BoJ maintains assessment for 6 of Japan’s 9 regions in quarterly report.
Many regions reported on tightening job market, labor shortages among firms.
Some big firms have announced plans of wage hikes at or above last year’s pace.
There are momentum for firms in regional areas to hike wages, with announcement of plans made somewhat earlier than last year.
Many firms in regional areas have yet to reach decision on rate of wage hike.
Quite a number of smaller firms in regional areas remain cautious of hiking wages due to concern over profits.
Many regions reported that there was high uncertainty on how much wage hikes will broaden.
Many firms continued to pass on higher raw material costs but pace slowing.
Market reaction
At the press time, USD/JPY is losing 0.25% on the day to trade at 145.40, unperturbed by the above BoJ findings.
Japanese Yen price today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.07% | -0.19% | -0.14% | -0.31% | -0.24% | -0.37% | -0.14% | |
| EUR | 0.06% | -0.13% | -0.08% | -0.25% | -0.18% | -0.32% | -0.06% | |
| GBP | 0.18% | 0.12% | 0.05% | -0.12% | -0.05% | -0.19% | 0.07% | |
| CAD | 0.13% | 0.08% | -0.05% | -0.17% | -0.10% | -0.23% | 0.01% | |
| AUD | 0.30% | 0.26% | 0.13% | 0.18% | 0.08% | -0.06% | 0.19% | |
| JPY | 0.24% | 0.19% | 0.06% | 0.11% | -0.08% | -0.14% | 0.13% | |
| NZD | 0.37% | 0.34% | 0.19% | 0.23% | 0.06% | 0.13% | 0.27% | |
| CHF | 0.13% | 0.06% | -0.07% | -0.01% | -0.18% | -0.12% | -0.25% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Source: https://www.fxstreet.com/news/boj-ups-economic-assessment-for-two-of-japans-nine-regions-202401110513