Forex
BOJ Survey: Business Sentiment Rises Despite Oil Price Pressures
The Bank of Japan released its quarterly 'tankan' survey on Thursday, showing business sentiment among large manufacturers has risen for the sixth consecutive quarter.
The report revealed that sentiment rose to 24 from 22, while large non-manufacturers saw their sentiment drop to 35 from 37.
Despite widespread challenges facing Japan, including soaring oil prices due to the war in Iran, which has effectively closed the Strait of Hormuz and disrupted oil imports, the Bank of Japan raised its benchmark interest rate twice this year to 1.25%, a three-decade high.