FxWirePro: USD/JPY Slumps As BoJ Disappoints Markets With No Change in Policy

FxWirePro: USD/JPY Slumps As BoJ Disappoints Markets With No Change in Policy

28 April 2016, 06:26
Roberto Jacobs
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FxWirePro: USD/JPY Slumps As BoJ Disappoints Markets With No Change in Policy

  • USD/JPY slumped from around 111.70 levels to 108.74 after Bank of Japan decided to stand put, keeping the policy unchanged, with the interest rate at -0.1%.  
  • The bank announced a lian support program for banks in areas hit by the recent earthquake. Total amount of loans for new fund supply operation is set at 300 bln yen. 
  • he central bank said Japan economy is likely to expand moderately and consumer inflation to hit 2 pct during fiscal 2017. 
  • The Central Bank cautioned about the risk that market uncertainty, slowdown in emerging markets could hurt business confidence. 
  • The yen jolted nearly 200-pips higher versus the American dollar in a knee-jerk reaction and has recovered slightly to trade at 109.38 levels. 
  •  Markets now await BOJ Chief Kuroda’s presser for more insights on today’s monetary policy stance. 



The material has been provided by InstaForex Company - www.instaforex.com



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