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Bank of Japan keeps ultra-loose policy unchanged

  • As expected, the Bank of Japan has left its key interest rate at 0.1%, and maintained its program of expanding the monetary base by ¥60-70T a year.
  • The BOJ noted that the economy has continued to recover moderately and will keep doing so, although it will be affected by a "front-loaded increase and subsequent decline in demand" due to an upcoming rise in sales taxes.
  • While "inflation expectations appear to be rising on the whole," the BOJ said, CPI is "likely to be around 1.25% for some time." The bank's target is 2%.
  • The Nikkei is +0.2%, while the USD-JPY is +0.1% to ¥104.45. (BOJ Statement)
  • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JGBL, JSC, JPP, ITF, DXJS, JGBT, JPNL, JPNS, FJP
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