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BoJ: Keeps to the dovish script, but JPY rises on safe haven flows
The Bank of Japan remains a very boring central bank to follow with very little in terms of change. This last meeting was no exception and rates were kept at -0.10% and the 10-year bond yield target was also kept at 0.0%. The only dissenter was Mr Katoaka who said that it was desirable to further strengthen monetary easing by lowering short and long-term interest rates, with a view to encouraging firms to make active business fixed investment for the post-COVID-19 era. For years Japan has struggled to see any inflation, so with inflation rising around the world, it was interesting to see that the BoJ expect consumer ... (full story)