BOJ to maintain ultra-low rates, sound warning over weak yen By anilpanchal7 BOJ RiskAppetite NewsTrading USDJPY
mulus, a move that may further weaken the yen by highlighting a policy divergence with the rest of the world,” said Reuters ahead of Friday’s BOJ monetary policy announcement.While a modest, technical tweak to its yield cap or guidance on the future policy path cannot be ruled out, the BOJ is seen sustaining its massive monetary support for now to ensure the economy is fully out of the doldrums.
The central bank may also deepen its resolve to defend the 0.25% upper limit by targetting a wider range of debt maturities for its unlimited fixed-rate bond-buying operation, which currently covers only 10-year bonds, some analysts said. BOJ Governor Haruhiko Kuroda has repeatedly stressed the need to keep interest rates ultra-loose, and that the central bank won’t target exchange-rates in guiding policy.
Kuroda is likely to warn against a weak yen at his post-meeting briefing, such as by highlighting the damage the currency’s sharp falls could inflict on the economy, analysts said.picks up bids to refresh intraday high around 132.70 by the press time. The yen pair’s latest gains could also be linked to the market’s consolidation amid a quiet Asian session on Friday.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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