BoJ Policy and USDJPY Reaction

  • 2023-12-19
  • Ruchit Thakur

BoJ Interest Rate Decision : Bank of Japan keeps policy and forward guidance unchanged

 

The Bank of Japan (BoJ) December monetary policy review meeting was on Tuesday. BoJ members decided to make no changes to current policy and kept the interest rate unchanged.

The Japanese central bank held the interest rate and 10-year Japan yield target at Minus 10 bps and 0% respectively, also BoJ left the forward guidance on monetary policy unchanged.

The Bank of Japan kept the rate unchanged and mentioned that the economy has recovered moderately and private consumption continues to rise with slow pace.

Members also mentioned that CPI is slower than a while ago and the economy is likely to continue recovering moderately for the time being.

#USDJPY Move : After the interest rate decision and BoJ statement #USDJPY showed volatility and moved both sides with spikes. In first instance after interest rate decision #USDJPY bounced but post statement it came down at the same zone and again bounced and tapped both sides with volatility.

 

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