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Chart: Precious metals market data for Industrial and Commercial Bank of China accounts on Monday, April 27, 2026.April 27 - A 6.1-magnitude earthquake struck southern Tokachi region of Hokkaido, Japan, on April 27, according to the Japan Meteorological Agency. There is no tsunami risk. The Japan Meteorological Agency said the earthquake occurred at approximately 5:24 a.m. local time (4:24 a.m. Beijing time) on April 27, with its epicenter located at 42.6 degrees north latitude and 143.1 degrees east longitude, and a focal depth of approximately 80 kilometers. According to Kyodo News, there are no reports of casualties. No abnormalities have been reported at the Tomari Nuclear Power Plant in Hokkaido. Some road and rail services have been suspended due to the earthquake.Hong Kong tech stocks saw some gains, with Baidu (09888.HK) rising over 5%, Alibaba (09988.HK) rising over 1%, and other stocks such as Beike (02423.HK), BOSS Zhipin (02076.HK), and NetEase-S (09999.HK) following suit.On April 27th, the Ministry of Culture and Tourism held a media promotion conference in Beijing for the 2026 National May Day Cultural and Tourism Consumption Week, officially launching the nationwide event. The conference announced plans to organize various regions to launch a series of affordable products, engaging activities, convenient services, and preferential measures for the May Day holiday, aiming to meet the travel and cultural tourism consumption needs of residents and tourists. It is understood that the May Day Cultural and Tourism Consumption Week will run from the end of April until the end of the May Day holiday. The Ministry of Culture and Tourism, in collaboration with relevant enterprises and institutions, will launch a series of diverse and beneficial cultural and tourism measures during the consumption week.On April 27th, Vishnu Varathan of Mizuho Securities stated that the Bank of Japan (BOJ) is expected to hold its policy steady this week, as the oil price shock triggered by the Middle East war could both damage demand and further exacerbate existing inflation risks. The BOJ is facing a dilemma, as it remains unclear which risk will prevail and what corresponding countermeasures should be taken. High inflation levels prior to the Middle East crisis and the sharp depreciation pressure on the yen limit the BOJs ability to ease policy prematurely to offset potential growth shocks. At the same time, the BOJ cannot raise interest rates too quickly or too drastically, as this could undermine the prospects for sustainable and healthy reflation.

GBP/JPY is above 163.00 as investors anticipate BOJ and BOE monetary policy decisions

Daniel Rogers

Sep 19, 2022 14:51

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The British pound to Japanese yen exchange rate has been all over the place throughout the Tokyo trading session, hovering between 163.12 and 163.34. The asset has continued its baffling weeklong price swing. Investors are trying to gather as much information as possible before making a decision, which is leading the cross to drift sideways before the results of the BOJ and BoE monetary policy meetings (BOE).

 

The weakening yen is a worry for the Japanese economy since it necessitates the shutdown or reduction of manufacturing capacity that relies heavily on global imports. Since this is the case, the Bank of Japan will have to take a stand of neutrality and refrain from pumping more money into the economy. The case for switching to a 'neutral' policy is bolstered by the fact that Japanese officials believe the yen's current value does not reflect its fundamentals and are prepared to intervene in FX fluctuations.

 

Japan's markets are closed today in observance of Respect for the Aged Day, while British markets are also closed today in observance of the Bank Holiday. In light of this, the cross's expected performance is middling at best.

 

UK inflation figures reported last week will aid the BOE, but it won't be enough to prevent an interest rate hike. The headline Consumer Price Index (CPI) for the United Kingdom came in at 9.9% less than the expected 10.2%, despite rising energy prices. Andrew Bailey, Governor of the Bank of England, is expected to announce a rate increase of 50 basis points (bps).

 

The BOE won't soften its aggressive position in response to a one-time drop in inflation. A shift in policy strategy will be warranted by a string of declining inflation rates.

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