The Bank of Japan's decision to keep interest rates around zero didn't come as a surprise, and focus now turns to Governor Kazuo Ueda's press conference late on Friday for further clues on next steps.
It's somewhat reminiscent of the BOJ's policy meeting in September 2022, though the yen's slide then was much more rapid and pronounced. With a scant economic calendar in the UK and euro zone, the U.S. core personal consumption expenditures price index data for March - the Federal Reserve's preferred measure of inflation - takes centre stage later on Friday.
While the country's first-quarter GDP missed expectations, that was due to a surge in imports and a small build-up of inventories. Domestic demand, however, remained strong, business investment picked up and the housing recovery gained steam.With just days to go before the next Fed policy meeting, it remains to be seen what Chair Jerome Powell will say this time.
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