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BoJ Governor Departure Hints at More Aggressive Central Bank

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The yen hit a 2-and-a-half-year low versus the dollar and Japanese stocks jumped up to 4 percent on Wednesday on expectations that the early departure of Shirakawa, who analysts say did not share the government’s view that the BOJ is responsible for ending deflation, will bring forward a shift in monetary policy.

Up until now, markets were not expecting much action from the central bank until after Shirakawa’s term ended in April and were also left a little disappointed after the BOJ said last month it would only start making large-scale asset purchases from the start of next year when its current program ends.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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