Market Quote : The Bank of Japan shocked global markets in a totally unexpected move Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 20 December 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The Bank of Japan shocked global markets in a totally unexpected move by raising the upper band limit for the 10 yr yield to 50 bps, which is seen as a step towards a hawkish policy shift. This has aggravated the sell-off in the global market, which was already risk-averse due to mounting recessionary fears following the Fed's comment. In this backdrop, the US GDP numbers expected on Thursday will provide a picture of the strength of the US economy"
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