BOJ Statement on Monetary Policy

BOJ Statement on Monetary Policy

From or.jp

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0 to 0.1 percent. 2. Overseas economies on the whole still have not emerged from a deceleration phase, but have shown some albeit moderate improvement. IN global financial markets, some nervousness continues to be seen, mainly due to concern about the European debt problem, Particular attention should therefore be given to ... (full story)

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Jun 15, 2012 1:20am

As I understand it the USD/JPY is currently 7885 and that BOJ will most likely do some QE to weaken the Yen to above 80 as and and when it suits them so japanese businesses and trading companies can unload their dollars, IMHO

petona2

Jun 17, 2012 3:44am

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The evidence and history of action suggests that they use other methods than kamikaze to reduce the value of the yen. Recents appointments to BOJ are 2 pro QE to replace 1 non QE to board and the most recent policy statement mentions QE specifically, so will they do it before Fed and ECB? On technicals yen currently at 78.73 which is in Ichimoku Cloud which at this point has a low just below 78.00 and a high of 80.70. Suggest that yen sensitive to US bond yeaild rate and is consolidating after recent fall. Await Fed this week and we will see if the BOJ is willing to use the sword.