EUR/JPY seeks support near 151.00 as ECB looks set for further interest rate hike – by Sagar_Dua24 EURJPY ECB BOJ Recession Inflation
ctory from the past few trading sessions as investors are hoping that the European Central Bank will raise interest rates further.has already raised interest rates to 3.75% in its long policy-tightening cycle over the past nine months. And, the street is anticipating one more interest rate hike by 25 basis points , which will push interest rates to 4%.
However, economic prospects in Eurozone are telling a different story. The display of contraction in the Gross Domestic Product figures consecutively for two quarters is considered a technical recession. And considering the definitional aspect of recession shows that the German economy has already reported a recession after posting a contraction in GDP.
In addition to that, Eurozone also showed a contraction in the final reading of GDP in the first quarter of CY2023.by the Bank of Japan will remain unaltered this Friday. In order to propel wages and overall demand to spurt in-house inflation, constant monetary stimulus is required as current inflationary pressures are inspired by higher import prices.
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