BOJ keeps policy unchanged, USD/JPY little changed near 108.65
|On Thursday, the Bank of Japan (BOJ) monetary policy board concluded its 2-day October policy review meeting and decided to leave its monetary policy settings unadjusted, holding rates at -10bps while maintaining 10yr JGB yield target at 0.00%.
The BOJ vote was 8 to 1, leaving its pledge to buy JGBs unchanged so that its holdings increase at an annual pace of around 80 trln yen.
The decision on maintaining its interest rate targets was made by a 7-2 vote with board members Goushi Kataoka and Yutaka Harada dissenting.
The central bank modified its forward guidance on interest rates, citing that it will more clearly signal future chance of rate cut.
The Yen was unfazed by the BOJ announcement, leaving the USD/JPY pair in a familiar range around 108.65 region, -0.15% on the day.
About BOJ Interest Rate Decision
BoJ Interest Rate Decision is announced by the Bank of Japan. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the JPY. Likewise, if the BoJ has a dovish view on the Japanese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.