8 Apr 2015
BoJ lowers inflation assessment again – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team gives an update regarding the key highlights from the BoJ’s policy statement.
Key Quotes
“In USD majors, the greenback traded softer across the board, particularly vs NZD and JPY currencies. NZD/USD rose about 40pips above $0.7530, AUD/USD was up 30pips above $0.7660, and EUR/USD rose about 30pips above $1.0840 at the highs.”
“USD/JPY crashed below ¥120 handle right after the BOJ policy decision amid signs of strain in the policy board, down over 40pips from session highs.”
“While the BOJ maintained its annual pace of growth in monetary base at ¥80T and maintained its economic assessment, board member Kiuchi amended his prior dissent of favoring the pre-October easing in exchange for more specific reduction of annual base growth to ¥45T.”
“Interestingly, the statement said that call was voted down by "majority", not 8-1 margin as his other dissent for more extended timeline toward 2% inflation, and suggesting he may have garnered some support in his position.”
“On inflation, the BOJ also lowered its CPI assessment for the 2nd straight month to 0% from prior view of 0.0-0.5%. Outlook for inflation remains at 0% as well.”
Key Quotes
“In USD majors, the greenback traded softer across the board, particularly vs NZD and JPY currencies. NZD/USD rose about 40pips above $0.7530, AUD/USD was up 30pips above $0.7660, and EUR/USD rose about 30pips above $1.0840 at the highs.”
“USD/JPY crashed below ¥120 handle right after the BOJ policy decision amid signs of strain in the policy board, down over 40pips from session highs.”
“While the BOJ maintained its annual pace of growth in monetary base at ¥80T and maintained its economic assessment, board member Kiuchi amended his prior dissent of favoring the pre-October easing in exchange for more specific reduction of annual base growth to ¥45T.”
“Interestingly, the statement said that call was voted down by "majority", not 8-1 margin as his other dissent for more extended timeline toward 2% inflation, and suggesting he may have garnered some support in his position.”
“On inflation, the BOJ also lowered its CPI assessment for the 2nd straight month to 0% from prior view of 0.0-0.5%. Outlook for inflation remains at 0% as well.”