Bank of Japan sticks to monetary easing

Source: Dukascopy Bank SA


Despite the massive depreciation of the Japanese Yen and currency interventions done by the Bank of Japan, the central bank has recently announced that it would stick to its monetary easing policy.

The central bank has kept its short term interest rate target at -0.1% and pledged to keep the 10-year bond yield near 0.0%. Moreover, the policymakers stated that short and long term rates would remain near present or lower than current levels.

The news beat down the value of the Japanese Yen, as the currency started a decline. On the USD/JPY charts it resulted in a surge, which by 09:00 GMT had reached above 147.50.
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