The Bank of Japan (BOJ) kept monetary policy steady by a unanimous vote on Wednesday, but revised up its forecast on expenditure – a traditionally weak indicator – a move that’s viewed positively by analysts.
As expected, the central bank maintained its pledge to increase the monetary base at an annual pace of 60-70 trillion yen and kept its overall assessment that the world’s third-biggest economy continues to recover moderately.
The yen weakened slightly to 101.37 against the U.S. dollar on the news.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.