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The Bank of Japan is Anticipated to Hold Rates Unchanged on Tuesday

Published July 30, 2018
  • The Bank of Japan is anticipated to hold rates unchanged on Tuesday, but there is growing speculation that it may change its policy on equity purchases. The Federal Reserve is also expected to leave rates unmoved when it announces its decision on Wednesday, with economists saying that recent comments from President Donald Trump will have no impact on policy. On Thursday, the Bank of England is expected to raise rates for the first time since November, despite continued Brexit uncertainty.
  • Chinese Foreign Minister Wang Yi said his country would be willing to resume trade negotiations with the U.S. if the Trump administration took a less combative approach to talks.
  • President Trump said yesterday that he would be willing to ‘shut down’ the government if Democrats do not support funding plans for his wall along the border with Mexico.
  • Oil rose as a weaker dollar boosted the appeal of commodities and concerns over global supply disruptions persisted. West Texas Intermediate futures added 1.1% following a retreat of 2.5% last week.
  • The U.S. is making ‘absolutely amazing’ progress and a deal could come as early as this fall, stated White House Economic Adviser Kevin Hassett. President Trump has indicated that his administration may pursue a bilateral deal with Mexico before negotiating separately with Canada