BoJ deputy governor plays down immediate prospects of further interest rate rises, sending stocks up in Tokyo, across Europe, and on Wall Street
European stock markets have joined the rally.
In London, the FTSE 100 share index has gained 43 points or 0.5% to 8068 points.
While such a comment doesn’t sound the ‘all clear’ for participants to load back up on the carry trade, the significant risk-on reaction to the remarks evidences how markets continue to chase a more dovish policy response from G10 central banks, even if OIS-implied pricing for over 100bp of Fed cuts this year continues to look over-the-top.
Growth in the transport, professional and business support services industries is revised up in 2022 and contributes to the overall upward revision to volume GDP growth; this is partially offset by downward revisions to growth in the manufacturing and healthcare industries.
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