News list for " mitsubishi"
MUFG said it did not expect much change in the text of the FOMC's statement in January compared with December, and the FOMC was still expected to be satisfied with guidance that "the committee will carefully evaluate the latest data, the evolving outlook, and the balance of risks as it considers the extent and timing of additional adjustments to the target range for the federal funds rate". The four-person voting committee was replaced this time. The new voting committee was Goolsby, Collins, Mu...
Lee Hardman, FX analyst at MUFG, said the dollar should strengthen in the first half of 2025, buoyed by the likely swift implementation of tariffs by US President-elect Trump and the limited prospect of the Federal Reserve cutting interest rates. More upfront tariff increases support the bank's forecast for further dollar strength in the first half of the year. In addition, the Federal Reserve sent a clear signal in December that they would be much more cautious in further rate cuts this year. I...
On November 1st, Henry Cook of Mitsubishi UFJ said that the Bank of England will cut interest rates by 25 basis points to 4.75% on November 7th. However, after Wednesday's budget commitment to increase public investment, a subsequent rate cut in December looks unlikely. Some members of the Bank of England's monetary policy committee may be concerned that additional government spending could push up inflation. Data show that the market expects the Bank of England to cut interest rates by a total ...
Mitsubishi UFJ analyst Derek Halpenny said that if Republican candidate Trump wins the US Presidential Election on November 5, the dollar and the US stock market could rise, at least at first. Trump said in an interview with the media last week that there is a higher risk that he will raise tariffs faster than during his first presidency. However, the dollar's nearly 4% gain in October suggests that this has been digested and could limit the dollar's gains. If Trump wins, the euro could fall bel...
Brokerage firms such as Mitsubishi UFJ Trust Bank, Nomura, and Daiwa Securities, as well as a consortium of Japanese institutions such as cryptocurrency exchanges such as BitFlyer and Bitbank, have proposed launching cryptocurrency ETFs focused on bitcoin and Ethereum in Japan.
Even if the Federal Reserve cuts interest rates by 25 basis points this week, the dollar will struggle to achieve a sustained recovery, according to MUFJ. Lee Hardman, an analyst at MUFG, said in a note that even if the Fed cuts interest rates by 25 basis points, it is likely to cut rates further at future meetings, especially if the labor market continues to weaken. That means "people may still think it is only a matter of time before the Fed needs to accelerate the pace of rate cuts," he said....
Bank of Mitsubishi UFJ, Sumitomo Mitsui Bank and Mizuho Bank will pilot stablecoin platforms to facilitate cross-border transfers. The pilot test, called "Project Pax", will utilize stablecoins issued by Progmat, a blockchain startup backed by SBI Holdings and Japan Exchange Group. The project will be operated by Progmat, Datachain and TOKI to facilitate testing of cross-chain transactions. The project plans to leverage SWIFT's existing banking API framework to direct Progma...
Mitsubishi UFJ said the dollar could fall further after its recent decline as the Federal Reserve is likely to start cutting interest rates in September and could signal a further rate cut than previously expected. "The next set of forecasts in September will show higher unemployment and lower inflation, which will form the basis for the start of the rate-cutting cycle," analysts said. The median rate forecast for 2024 could rise from one rate cut to possibly three or four, they said. However, b...
Mitsubishi UFJ said the yen could appreciate further against the dollar if the Fed's meeting notes this week and Fed Chairperson Jerome Powell's remarks on Friday depress U.S. Treasury yields. Analyst Derek Halpenny said in a note that meeting notes could provide an indicator of the magnitude of interest rate cuts expected in September. Powell's remarks at the Jackson Hole symposium on Friday could also indicate that the Fed is preparing to cut rates. These events are important in determining wh...
MUFG MSS, the Japanese joint venture of MUFG Financial Group, plans to issue digital securities this year. MUFG MSS is currently focused on digital bonds. In the future, the company hopes to use Morgan Stanley's overseas network to sell Japanese digital bonds to foreign investors. MUFG also owns 49% of Progmat, one of the two major permissioned blockchain networks used in Japan to issue digital securities. Besides MUFG, Progmat's investors include Sumitomo Mitsui Bank and Mizuho Bank, as well as...
