Japan's long and sordid dance with unconventional monetary policy continues. With most analysts expecting a 'nothingburger' from Kuroda (though some hinting at the potential for shock-and-awe), The BOJ delivered... nothing - no change. However, most critically, the BOJ admitted defeat of deflation and delayed the timing of reaching their 2% inflation goal to around FY2019. No change to policy: BOJ Maintains 10-Year JGB Yield Target at About 0.000% BOJ Maintains Policy Balance Rate at -0.100% 80 trillion yen target purchasing remains in place But... BOJ Raises Assessment of Economy - FY2017 GDP forecast is 1.8%, ... (full story)