BOJ Statement on Monetary Policy | Forex Factory

BOJ Statement on Monetary Policy | Forex Factory

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. While overseas economies remain in deceleration phase, they have shown some signs of picking up. In global financial markets, investors' risk aversion has abated, although developments require continued attention. Japan's economy appears to stop weakening. Exports continue to decrease, but the pace of decrease ... (full story)

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Feb 13, 2013 10:23pm

Quoting xivh

Disliked

Third paragraph of the 6th point says:

"The Bank will pursue aggressive monetary easing, aiming to achieve the above-mentioned price stability target, through virtually zero interest rate policy and purchases of financial assets, as long as the Bank judges it appropriate to continue with each policy measure respectively"

sounds clear to me!!

Ignored

Yes, this is what was said last month, BUT would not start until 2014, I think the market was looking to see if they would start in 2013, based on the bad data.

So it may need the new boss of the BOJ to start the printing press this year and we might get a correction first

Feb 13, 2013 10:51pm

Quoting xivh

Disliked

Hmm, you might be right, but I don´t think the BOJ will let it dip lower than 90, judging from all the talk. I also think that if it breaks above 94 again, who knows where it will go.

Ignored

Quoting xivh

Disliked

Hmm, you might be right, but I don´t think the BOJ will let it dip lower than 90, judging from all the talk. I also think that if it breaks above 94 again, who knows where it will go.

Ignored

It as got to where it is just based on talk (hot air) the BOJ have had a very easy ride, I am sure other central banks around the world would like their politicians to talk their currencies weaker without having to print.

I do see 100 before the end of the year, but I also see the cycle taking us down to test 88 first, time will tell

Feb 13, 2013 11:14pm

Quoting frx_trader

Disliked

I know where you hint. If ECB wanted, Euro can be easily down more than 10% to 1.16.

ECB needed only to QE 1 trillion Euros. But uh...... no.

Ignored

Yes just imagine where the EUR would be if German politicians started TALKING about a weaker EUR, they could get it down below 1.20 without ECB having to print

Feb 13, 2013 11:53pm

Quoting cppolybd

Disliked

But the reality is they are ok with this..... On the otherhand BOJ wants to weak Yen....

Ignored

Who is OK with it ECB or Germany? Is this because ECB feels a strong EUR = stability for the currency and thus keeps them in a job and Germany only think about themselves and forget they are part of a club where other club members can not make their economies work with a strong EUR.

Feb 13, 2013 11:06pm

Quoting Robot Trader

Disliked

I I am sure other central banks around the world would like their politicians to talk their currencies weaker without having to print.

Ignored

I know where you hint. If ECB wanted, Euro could be easily down more than 10% to 1.16.

ECB needed only to QE 1 trillion Euros. But uh...... no.

Feb 13, 2013 11:42pm

Quoting Robot Trader

Disliked

Yes just imagine where the EUR would be if German politicians started TALKING about a weaker EUR, they could get it down below 1.20 without ECB having to print

Ignored

But the reality is they are ok with this..... On the otherhand BOJ wants to weak Yen....

Feb 13, 2013 10:17pm

bu bu babab bubububu bababba......

Feb 13, 2013 9:59pm

The Yen crosses are due for a correction PA may push up to EJ 126.15 or a little higher to take out a few stops before correcting a few hundred pips, just to keep the G20 happy

Feb 13, 2013 9:58pm

Wait for confirmation via technicals. Remember Press conference in a little bit.

Feb 13, 2013 10:31pm

Good luck

Feb 14, 2013 7:44am

Ended up getting out, last night at about 10:45 EST, and was not happy about it. Now, were alot happier about being out of the long on the eur/jpy pair...What a roll over.

Quoting pippiphooray

Disliked

BTW...We now own a bunch of eur/jpy

Ignored

Feb 13, 2013 9:42pm

buy EJ/UJ

Feb 13, 2013 10:24pm

Long for 126.25 then short..

Feb 13, 2013 10:17pm

Third paragraph of the 6th point says:

"The Bank will pursue aggressive monetary easing, aiming to achieve the above-mentioned price stability target, through virtually zero interest rate policy and purchases of financial assets, as long as the Bank judges it appropriate to continue with each policy measure respectively"

sounds clear to me!!

Feb 13, 2013 10:31pm

Quoting Robot Trader

Disliked

Yes, this is what was said last month, BUT would not start until 2014, I think the market was looking to see if they would start in 2013, based on the bad data.

So it may need the new boss of the BOJ to start the printing press this year and we might get a correction first

Ignored

Hmm, you might be right, but I don´t think the BOJ will let it dip lower than 90, judging from all the talk. I also think that if it breaks above 94 again, who knows where it will go.

Feb 13, 2013 9:45pm

"...We're all about easing..." as you were people...CHeers

Feb 13, 2013 9:46pm

BTW...We now own a bunch of eur/jpy

Feb 13, 2013 9:55pm

125.75 eur/jpy
200mva/5min...This pause is kinda giving us pause...

Feb 13, 2013 10:37pm

Isn't this release a perfect time to start correction?

Feb 13, 2013 9:50pm

No more easing.So careful.

Feb 13, 2013 10:04pm

Quoting pippiphooray

Disliked

125.75 eur/jpy
200mva/5min...This pause is kinda giving us pause...

Ignored

but they say no more weakening

Feb 13, 2013 11:40pm

Time to make more money on EUR/JPY...

Trader#F348

Feb 14, 2013 12:19am

The crazy thing is that currencies are being openly manipulated by politicians and central bankers. This affects not only the little guys (the retail traders), but corporate import/export business, national economies, and the employment situation worldwide. The G7 have come to some cozy agreement or agreement to disagree, and will shove this down the throats of the rest of the G20. The only possibility I see for any resistance is from BRICS, but then China now seems to have come to some cozy agreement with USA. Obama has cooled off attacking China over the yuan peg to USD as China is apparently now concentrating on developing it's domestic economy. Nevertheless the latest import/export figures place China ahead of USA in international trade.

Trader#D3E7

Feb 14, 2013 3:42am

Quoting Guest

Disliked

EUR is like a mental kid that doesn't know what to do, "we want strong EUR, then it's not good to have strong EUR"
but Japan is different, they export a lot. so they need weak Yen, no question

Ignored

Agree and disagree.
EUR is like a first grade kid saying hmm is it an A or a B what I'm trying to read?
Japan may export a lot but Europe exports a lot too, just different products, so they also need week currency. But as I said they just now learn to read...

Trader#64F1

Feb 13, 2013 9:48pm

time to attack,,, double our balance.

Trader#A593

Feb 13, 2013 10:36pm

Aggresive purseing easing is the keyword for bullish usd/yen

Trader#AEE7

Feb 13, 2013 11:08pm

Ex-BOJ Iwata says yen overvalued from trade perspective...

Trader#64F1

Feb 14, 2013 12:32am

EUR is like a mental kid that doesn't know what to do, "we want strong EUR, then it's not good to have strong EUR"
but Japan is different, they export a lot. so they need weak Yen, no question

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Story Stats

Feb 13, 2013 9:41pm
Posted by
Newsstand

Medium Impact Breaking

28

6,542
Linked events:

JN Monetary Policy Statement

JN Overnight Call Rate