Previous close | 16,737.10 |
Open | 16,628.07 |
Volume |
Day's range | 16,492.09 - 16,682.54 |
52-week range | 14,794.16 - 20,864.74 |
Avg. volume | 2,433,407,145 |
Shares were mixed in Asia on Tuesday after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy at odds with the stances of most central banks. In a widely anticipated move, the BOJ raised its overnight call rate to a range of 0 to 0.1%, up from minus 0.1%. It said that wage increases and other indicators suggested that inflation had stabilized above the BOJ's 2% target, but noted “extremely high uncertainties,” including weakness in industrial production, exports, housing investment and government spending.
Japanese shares ended higher on Tuesday, while the yen slid to 150 per dollar after the Bank of Japan as widely expected ended eight years of negative interest rates and ushered in the nation's first policy tightening since 2007. In a week filled with central bank meetings across the globe, the BOJ heralded a new era as it shifted away from years of ultra-easy monetary policy. "Likely, the BOJ will find that it is getting 'stuck at zero', being unable to lift short-term interest rates meaningfully further in the coming quarters."
Japanese shares were volatile on Tuesday, while the yen fell to near 150 per dollar after the Bank of Japan in a widely expected move ended eight years of negative interest rates and ushered in the nation's first policy tightening since 2007. In a week filled with central bank meetings across the globe, the BOJ heralded a new era as it shifted away from years of ultra-easy monetary policy. The BOJ set the overnight call rate its new target and said it would guide it in a range of 0-0.1% by paying 0.1% interest on excess reserves financial institutions park with the central bank.