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The Japanese Yen edged lower against the Greenback, following the Bank of Japan's monetary policy report. The USD/JPY currency pair rose 15 base points or 0.13% to continue consolidation in the narrow range between the 113.05-113.25 marks.
The Bank of Japan announced its decision to maintain the key interest rate unchanged at a negative 0.1% and keep the target for the ten-year government bond yield at 0%. The Bank postponed its monetary policy changes amid signs of improvements in the country's economy, still anticipating the inflation growth to the elusive 2% target. The following review of the BoJ projections showed that it cut price growth forecasts for 2017, but kept optimistic view for the next years.
| Historical Data Table: BoJ Interest Rate Decision | Economic Calendar for 31.10.2017 | ||||||||
| Date | 27.04.2017 | 16.06.2017 | 20.07.2017 | 21.09.2017 | 30.10.2017 | 10:00 AM | EU GDP q/q | ||
| Actual | -0.10% | -0.10% | -0.10% | -0.10% | -0.10% | 7:30 PM | BoC Governor Poloz Speech | ||
| Forecast | -0.10% | -0.10% | -0.10% | -0.10% | -0.10% | 9:45 PM | NZ Unemployment Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/JPY | 86.848 | 86.904 | 0.06% | AUD/JPY | 35.89% | 64.11% | |||
| CAD/JPY | 88.095 | 88.193 | 0.11% | CAD/JPY | 74.28% | 25.72% | |||
| EUR/JPY | 131.617 | 131.778 | 0.12% | EUR/JPY | 30.32% | 69.68% | |||
| USD/JPY | 113.09 | 113.242 | 0.13% | USD/JPY | 33.34% | 66.66% | |||