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Ekonomické zprávy
28.10.2021

Asian session review: the US dollar consolidated against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaExport Price Index, q/qQuarter III13.2% 6.2%
00:30AustraliaImport Price Index, q/qQuarter III1.9% 5.4%
03:00JapanBOJ Outlook Report    
03:00JapanBoJ Interest Rate Decision -0.1%-0.1%-0.1%


During today's Asian trading, the US dollar traded steadily against the euro and the pound, and declined against the yen.

The Bank of Japan has worsened the forecast of economic growth in the country in the near future as part of a quarterly revision. Now it is expected that GDP in the current fiscal year, which will end in March 2022, will increase by 3.4% against the previous estimate of 3.8%. Meanwhile, next fiscal year is expected to rise by 2.9% compared with the July forecast of 2.7%.

At the same time, the Bank of Japan, following the results of the next meeting, kept the parameters of monetary policy unchanged.

On the price front, the bank said consumer prices are set to remain unchanged in the current fiscal instead of the 0.6 percent increase estimated previously. The projected rate of increase in the CPI for fiscal 2021 is lower, mainly due to the effects of the rebasing of the index. The bank maintained its inflation forecast the fiscal 2022 at 0.9 percent and that for the fiscal 2023 at 1 percent.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.03%.

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