BOJ, $USDJPY, Nikkei

Updated: Sep 13, 2019

The Bank of Japan kept the interest rates and the yield curve control target unchanged as expected, but extended the debt buying for the loan program by a year. Detailed schedule and recently released notes from the BOJ meetings can be found at their website:

Bank of Japan's GDP forecast for fiscal year 2017 is 1.5%

The Bank of Japan core CPI forecast for fiscal year 2018 is 1.7%

$USDJPY as a pair has been trading low past few days. The decline deepened further in a knee-jerk reaction to the BOJ but rebounced immediately (this is a usual behaviour if the outcome of a central bank meetings or for that matter any key calendar event falls in-line with analyst / market expectations). Normalised between 113 - 114 (10-min chart above) , its yet to be seen if the BOJ will boost Yen further vs the USD. $USDJPY is down from 118.7 December peaks to current 113.5 level just in a month.

$NKY (Nikkei) reaction has been somewhat similar. 4H chart here shows the continuation in decline from yesterday for the Japanese Stock index. Global indexes have been peaking at all time highs and re-balancing in last few days.


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