Economic calendar in Asia 24 December 2024 - BoJ and RBA meeting minutes ...Middle East

There are a couple of meeting minutes scheduled for the Asia session:

for the Bank of Japan meeting on October 30 and 31for the Reserve Bank of Australia meeting on December 9 and 10

At its meeting on October 30-31, 2024, the Bank of Japan (BOJ) maintained its ultra-low interest rates, emphasizing the need to carefully assess global economic developments before making further policy adjustments.

The BOJ's decision to maintain the current policy rate at 0.25% reflects its commitment to supporting Japan's economic recovery while being vigilant about potential risks from global economic conditions and market volatility. Governor Ueda stated that the central bank would continue to scrutinize data at each policy meeting to determine the appropriate timing for any policy changes.

The cautious approach continued at the meeting that followed, December 18.

Bank of Japan leaves rates unchanged, as widely expected

From the Summary that followed two weeks after:

BOJ Summary (Oct.): Yen's depreciation has significant effects

At its meeting on December 9–10, 2024, the Reserve Bank of Australia (RBA) maintained the cash rate target at 4.35%, marking the ninth consecutive meeting without a change.

Governor Michele Bullock highlighted that recent economic data had been softer than expected, indicating a possible easing of inflationary pressures. She emphasized that the Board's views are evolving in response to these developments, opening the door to a potential rate cut as early as February 2025 (although May is the current consensus).

From the day:

ForexLive Asia-Pacific FX news wrap: RBA on hold, less hawkishRBA's Bullock: I don't know if we're going to be cutting rates in FebruaryRBA's Bullock: We did not explicitly consider an interest rate cut todayRBA's Bullock: The change in wording today is deliberateRBA's Bullock: We need to think carefully about where we're going on policy This article was written by Eamonn Sheridan at www.forexlive.com.

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