GBP/JPY fails to sustain above 157.00 as UK wage growth triggers higher inflation projections GBPJPY BOJ BOE Inflation SEO
will face stiff hurdles in achieving price stability. The Pound Sterling is expected to remain on tenterhooks as investors are waiting for the release of the United Kingdom Employment data, which is scheduled for Tuesday.
Monday’s speech from Bank of England Governor Andrew Bailey in which he assures inflation softening failed to provide strength to the Pound Sterling. Bank of England’s Bailey has provided remarks of decelerating inflation on the basis of falling energy prices. However, the Bank of England Governor is still worried about rising wage growth, which could be a hurdle in decelerating inflation.
For the past decade, the Bank of Japan is heavily pouring liquidity into the economy to fight deflation and spurt the growth rate. This has led to a serious cut in the value of the Japanese Yen, which is the reason why the Bank of Japan and other Japanese officials have started considering an exit from the loose monetary policy. In its first monetary policy on Wednesday, the BoJ might provide cues about changing policy stance ahead.
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