Oil prices halted their rise in Asia on Monday, hurt by the strengthening US currency which makes the dollar-price commodity more expensive.
The greenback rose after Japan’s central bank shocked markets on Friday with a decision to adopt a below zero interest rate policy in a bid to spur bank lending and drive up inflation.
Bank of Japan (BoJ) chief Haruhiko Kuroda cited recent financial market turmoil and a China slowdown for ushering in a minus 0.1% rate on new reserves, and said the bank may go even further into negative territory.
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The greenback rose after Japan’s central bank shocked markets on Friday with a decision to adopt a below zero interest rate policy in a bid to spur bank lending and drive up inflation.
Bank of Japan (BoJ) chief Haruhiko Kuroda cited recent financial market turmoil and a China slowdown for ushering in a minus 0.1% rate on new reserves, and said the bank may go even further into negative territory.
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