Yen slides after BOJ stuns markets with negative rates

January 29, 2016 12:21 PM

11 0

Yen slides after BOJ stuns markets with negative rates

LONDON The yen was on track for its biggest daily fall against the dollar in over a year on Friday after the Bank of Japan stunned markets by joining a handful of major central banks in adopting negative interest rates.

The turmoil in markets since the start of the year on fears of slowing global growth, collapsing oil prices and wobbles in China's economy has driven investors to seek safety in the yen, making the BOJ's 2 percent inflation goal ever harder to reach.

Also read: Russian Central Bank: Hackers Stole $31 Million From Correspondent Accounts

Read more

To category page

Loading...