Bank of Japan

BOJ and Fed double up on yen, sending it to a five-month low

Currency falls past 157 per dollar on Gov. Ueda's cautious stance

20241219 yen panel

Before the BOJ's announcement, market watchers were divided over whether the central bank would hike its policy rate in December or January. (Photo by Yutaka Miyaguchi)

AKANE OKUTSU, Nikkei staff writer
December 19, 2024 12:24 JST
Updated on December 19, 2024 18:13 JST

TOKYO -- The Japanese yen weakened on Thursday after the Bank of Japan said at the end of a two-day policy meeting that it would hold interest rates steady at 0.25%.

The currency fell to over 155 to the dollar after the initial announcement, its weakest point since Nov. 21, from as low as 154.86 earlier in the morning in Tokyo.

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