Bank of Japan keeps policy steady

The Bank of Japan was expected and has maintained its key interest rates at today’s meeting, continuing to defend low rates with bond-buying but is uber dovish and pessimistic in its guidance.

The yen is now pushed above 129 the figure toughing a 20-year high and that is where it will need to stay for a convincing prospect of a continuation for the foreseeable future.

More comments are flowing in from Bank of Japan (BOJ) Haruhiko Kuroda, as he continues to speak on the monetary policy outlook at the post-policy meeting press conference.

Appropriate to maintain current powerful monetary easing to support economy.

Need to patiently continue current powerful monetary easing.

Excessive currency moves as seen recently will make it hard for business planning.

Western central banks are normalising policy but japan is not in such situation given its economy, price trend.

Takes more time to achieve 2% inflation target in virtuous cycle of rising corporate profits, wages

Watching closely impact of fx moves on Japan’s economy, prices.