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GBP/JPY – Remains near highs as the BoJ stands pat in January
The Bank of Japan opted to leave interest rates and its yield curve control policy unchanged today, indicating a decision on negative rates may come at one of the upcoming meetings. It was always likely that no decision would be taken today as the central bank awaits the outcome of the spring wage negotiations due to take place in the coming months. For this reason, March, even April, may also come too soon and the central bank did suggest that the first move won’t necessarily come alongside new economic forecasts. Wage negotiations will ultimately be the driving force as they will give the clearest indication of ... (full story)