#centralbank

The Bank of Japan held its policy rate at 1% in an 8-1 vote while warning core inflation could move clearly above 2% from September. The yen had traded near 163 per dollar before a reported intervention-related move lifted it as far as 157.96.

The Bank of England held Bank Rate at 3.75% in a 7-2 vote, with Megan Greene and Huw Pill backing a 25 bp hike to 4%. The June minutes point to 2.8% CPI, tighter financial conditions and energy-price volatility as the policy trade-off.