| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:45 | France | CPI, m/m | July | 0.1% | 0.3% | 0.2% |
| 07:55 | Germany | Unemployment Change | July | 19 | 15 | 18 |
| 07:55 | Germany | Unemployment Rate s.a. | July | 6% | 6% | 6% |
| 09:00 | Eurozone | Harmonized CPI | July | 0.2% | -0.3% | 0% |
| 09:00 | Eurozone | Harmonized CPI, Y/Y | July | 2.5% | 2.4% | 2.6% |
| 09:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | July | 2.9% | 2.8% | 2.9% |
JPY jumped against other major currencies in the European session on Wednesday, as investors continued to respond to the Bank of Japan’s (BoJ) unexpected decision to hike its interest rates.
The BoJ’s 25-basis-point rate increase lifted its benchmark interest rate to “around 0.25%”, the highest level since the global financial crisis in late 2008. The Japanese central bank also presented a staged plan to pare its bond-buying programme and reiterated its projection made in April that inflation would stay around 2% through fiscal 2026.
Commenting on the BOJ’s rate hike, its governor Kazuo Ueda said that the move came as economic conditions and price movements remained “on track”. He also signalled that more rate increases should be expected if economic conditions and inflation align with the central bank’s projections.